TCS Q1 Results: Net profit jumps 16.84% on year to ₹11,074 crores; declares dividend
Tata Consultancy Services (TCS) Ltd on Wednesday reported an 16.84% year-on-year rise in its consolidated net profit (attributable to shareholders of the company) for the fiscal's first quarter ended June (Q1FY24) to ₹11,074 crore. The company had reported a profit of ₹9, 478 crore in the year-ago period. Sequentially, the consolidated net profit was down 2.8%.
TCS shares ended at ₹3,260.20 apiece, down 0.36% on BSE. The IT company's consolidated revenue from operations stood at ₹59,381 crores during the quarter ended June from ₹52,758 crore in Q1FY23. Sequentially, up 0.4% from ₹59,162 crore in Q4FY23.
The company's consolidated total income for the quarter ended June surged 13.5% year-on-year to ₹60,778 crore, and sequentially rose by 0.7%. The company's operating margin decreased from 24.5% in Q4FY23 to 23.2% in Q1FY24, a 130 basis point decline. It increased merely 0.1% year over year. The company has declared an interim dividend of ₹9.
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