TCS Q1FY24 earnings: Six key highlights from the IT major's June-quarter scorecard

livemint.com:

₹11,074 crore in Q1FY24 which was up 16.8 per cent YoY while the company's revenue for the quarter stood at ₹59,381 crore, rising 12.6 per cent YoY. The company's revenue growth in constant currency terms rose 7 per cent YoY. The operating margin during the quarter under review expanded modestly by 0.10 per cent YoY to 23.2 per cent.

Read more: TCS Q1 Results: Net profit jumps 16.84% on year to ₹11,074 crores; declares dividend TCS said the United Kingdom (UK) led among major markets, with 16.1 per cent growth while North America grew 4.6 per cent and Continental Europe grew 3.4 per cent in Q1FY24. In emerging markets, Middle East & Africa grew 15.2 per cent, India grew 14 per cent, Latin America grew 13.5 per cent, and Asia Pacific grew 4.7 per cent, the IT major said. Among the industrial segments, TCS said growth was led by life sciences and healthcare which grew 10.1 per cent and the manufacturing vertical grew 9.4 per cent during the quarter.

The BFSI (banking, financial services and insurance) segment saw a mild growth of 3 per cent, while retail and CPG grew 5.3 per cent. Technology and services grew 4.4 per cent while communications and media grew 0.5 per cent. TCS saw mild net addition in its workforce during the June quarter.

It said its workforce stood at 615,318 as on June 30, with a net addition of 523 during the quarter. "The workforce continues to be very diverse, comprising 154 nationalities and with women making up 35.8 per cent of the base. The company rolled out its annual salary increase across its workforce, with effect from April 1, 2023," the company said in its BSE filing.