India’s major IT bellwether TCS has reported quarterly results beating street estimates, as net profit came in 23.5% higher on year to Rs 7,340 crore, in the April to June quarter.
India’s major IT bellwether TCS has reported quarterly results beating street estimates, as net profit came in 23.5% higher on year to Rs 7,340 crore, in the April to June quarter. Notably, the IT behemoth is the first to report quarterly results in this quarter, from the tech pack. IDFC had earlier expected the company to post a 16% on-year rise in net profit at Rs 6,870.6 crore against Rs 5,945 crore reported for the year-ago period. Revenue were seen to rise 15% on-year to Rs 33,921.4 crore against Rs 29,584, said the research firm. The revenues of the behemoth came in at Rs 34,261 crore, up by more than 15.5% on year.
We take a closer look at the report card, and bring to you in a nutshell 7 key figures from TCS Q1 FY19 results
- Net Profit came in at Rs 7,340 crore vs Rs 5,945 crore, implying a rise of 23.5% on year.
- TCS clocked total revenues of Rs 34,261 crore as against Rs 29,584 crore in the same period in the previous year, implying 15.8% rise on year. Digital Revenue came in at 25%, up 44.8% on year.
- Operating margin came in at 25%, while net cash from operations stood at 103.7% of net profit.
- Notably, the company’s attrition continues to trend down; at 10.9% which is lowest in the industry.
- The company has declared an interim dividend of Rs 4 per share for face value of Rs 1 per share.
- The company has reported healthy client revenue metrics, with Clients in $100 million band increased by 2; Clients in $50 million band increased by 13.
- Company MD Rajesh Gopinathan said, “We are starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. Our Banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, we are positioned well for the future.”