22-Jul-2024Today's Market Indicators

TCS PAT slips 3% QoQ to Rs 12,040 cr in Q1, declares dividend of Rs 10/share
(16:44, 11 Jul 2024)

However, revenue from operations grew by 2.25% quarter on quarter (QoQ) to Rs 62,613 crore in Q1 FY25.

On a year on year (YoY) basis, the IT firm's net profit increased 8.72% and net sales grew by 5.44% in the quarter ended 30 June 2024.

Constant currency revenue grew 4.4% YoY in the June quarter. Operating margin stood at 24.7% while net margin was at 19.2% in Q1 FY25.

Profit before tax was at Rs 16,231 crore in the second quarter of FY24, down 3.67% QoQ and up 8.29% YoY.

The company said that the double-digit growth in Emerging Markets (61.8% YoY) was led by India.

Further, it added that the YoY growth was led by Manufacturing (9.4%), Energy, Resources & Utilities (5.7%), and Life Sciences & Healthcare (4%).

TCS? workforce stood at 606,998 as on 30 June 2024. IT services? attrition was at 12.1% for the last twelve months.

As on 30 June 2024, the company has applied for 8,194 patents, including 154 applied during the quarter, and has been granted 4,146 patents including 227 granted during the quarter.

Meanwhile, the firm?s board declared an interim dividend of Rs 10 per equity share. The record date for the same is Saturday, 20 July 2024 and the payment date is Monday, 5 August 2024.

K Krithivasan, chief executive officer and managing director, said: ?I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets. We are continuing to expand our client relationships, create new capabilities in emerging technologies and invest in innovation, including a new AI-focused TCS PacePort in France, IoT lab in the US and expanding our delivery centers in Latin America, Canada and Europe.?

Samir Seksaria, chief financial officer, said, ?In spite of the usual impact of the annual wage increments in this quarter, we have delivered strong operating margin performance, validating our efforts towards operational excellence. We remain focused on making the right investments in R&I and talent, strengthening our superior return ratios and creating long term value for our stakeholders.?

Milind Lakkad, chief HR officer, said: ?I am delighted to announce the successful completion of our annual increment process. Our continued focus on employee engagement and development led to industry-leading retention and strong business performance, with the net headcount addition being a matter of immense satisfaction.?

TCS is an IT services, consulting and business solutions organization. It offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions.

Shares of Tata Consultancy Services (TCS) rose 0.33% to end at Rs 3,922.70 on the BSE.

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