Monday, Nov 28, 2022

Tata Consultancy Services Q1 profit up 28.5% on BFSI, retail growth

Consolidated revenue from operations increased by 18.5 per cent to Rs 45,411 crore compared to Rs 38,322 crore in the corresponding quarter of 2020-21.

Tata consultancy services results newsThe country's biggest software services firm had posted a consolidated profit of Rs 7,008 crore in the same quarter a year ago. (File Photo)

Tata Consultancy Services (TCS) on Thursday reported a 28.5 per cent rise in consolidated net profit for the June quarter at Rs 9,008 crore as against Rs 7,008 crore in the year-ago period.

Consolidated revenue rose 18 per cent to Rs 45,411 crore from Rs 38,322 crore in June 2020. The company also announced an interim dividend of Rs 7 per share.

Net profit of TCS saw a 2.6 per cent sequential decline due to lower other income. Rajesh Gopinathan, MD and CEO, said, “Our business in North America, BFSI and retail all showed an appreciable growth which underlines the resilience of our operating model, relevance of our offerings and above all, the passion and dedication of our associates.”

TCS’ employee headcount crossed the 500,000 mark in Q1, with 509,058 employees as of June 30 — a net addition of 20,409, its highest quarterly net addition ever.

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First published on: 08-07-2021 at 08:20:50 pm
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