TCS Q1 Results: Profit rises 17% YoY to Rs 11,074 crore, beats estimates; revenue up 13%

economictimes.indiatimes.com:

Tata Consultancy Services (TCS) reported a nearly 17% year-on-year (YoY) rise in consolidated net profit for the June quarter to Rs 11,074 crore. Consolidated revenue increased nearly 13% YoY to Rs 59,381 crore. While the net profit was above the ET Now poll of Rs 10,890 crore, the revenue was tad lower than the estimated Rs 59,500 crore.

The board has approved an interim dividend payout of Rs 9 a share. Sequentially, the topline rose a mere 0.4%, making this the slowest growth in 12 quarters for the country’s largest software exporter. The profit declined nearly 3% from the March quarter.

Sequentially, the topline rose a mere 0.4%, making this the slowest growth in 12 quarters for the country’s largest software exporter. The profit declined nearly 3% from the March quarter. In constant currency terms, TCS’ revenue grew about 7% YoY.

The company’s order book stood at $10.2 billion, with a book-to-bill ratio of 1.4. The operating margin in the quarter came in at 23.2%, down a sharp 130 basis points from the previous quarter. “We remain confident in the longer-term demand for our services, driven by the emergence of newer technologies,” said K Krithivasan, Chief Executive Officer and Managing Director of the company.