TCS posts 9 pc jump in Q1, net profit at Rs 12,040 crore

Mumbai, July 11 – Leading IT software services exporter Tata Consultancy Services (TCS) posted a net profit of Rs 12,040 crore for the April-June quarter of the current financial year (2024-25) which represents a 9 per cent increase over the same quarter of 2022-23.

The TCS board also approved an interim dividend of Rs 10 per share for the quarter. The record date for dividend payment is July 20, 2024, and dividends will be paid out on 5 August 2024.

The company won some large deals during the first quarter pushing its order book to $10.2 billion from $8.2 billion in the same quarter of the previous year.

“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 (Internet of Things) lab in the US and expanding our delivery centres in Latin America, Canada and Europe,” TCS CEO K Krithivasan said in a statement.

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,” he added.

TCS added 5,452 employees in Q1 taking the total workforce to 6.07 lakh. The company’s attrition rate stood at 12.1 per cent on the last twelve-month basis.