Tata Consultancy Services (TCS) on Thursday reported better-than-estimated consolidated net profit of Rs 6,318 crore for the first quarter ended June 30, 2016 against Rs 6,347 crore in the sequential quarter ended March 31, 2016. The company had reported net profit of Rs 5,773 crore in the corresponding quarter a year ago.
Motilal Oswal had predicted that net profit of the software major may see over 2 per cent fall on quarter-on-quarter basis following lower margins.
The company has announced an interim dividend of Rs 6.50 per equity share of 1 each.
Income from operations (net) of the company jumped 3 per cent quarter-on-quarter to Rs 29,305 crore for the quarter ended June 30, 2016 from Rs 28,449 crore in the previous quarter ended March 31, 2016. Income from operations grew 14 per cent on year-on-year basis.
The employee gross addition stood at 17,792 for the quarter ended June 30, 2016 and attrition rate fell for the third consecutive quarter to 13.6 per cent. The company’s total employee stood at 3,62,079.
During April-June, EBIT of IT major stood at Rs 7,347 crore, down 0.88 per cent, against Rs 7,412 crore in the corresponding quarter a year ago. The company reported EBIT of Rs 6748 crore in the same quarter last year.
Earnings per share (EPS) stood at Rs 32.06 for the quarter ended June 30. EPS was at Rs 29.17 in the same quarter last year.
Share price of the company ended 1.16 per cent up at Rs 2520.30.