TCS Q1 net profit up 11% to Rs 8,131 crore on strong digital demand

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Biznextindia : Tata Consultancy Services (TCSNSE -1.93 %) on Tuesday reported a 10.8 per cent year-on-year (YoY) rise in profit at Rs 8,131 crore for June quarter against Rs 7,340 crore in the corresponding quarter last year. Revenue for the quarter rose 11.4 per cent YoY to Rs 38,172 crore, the company said in a regulatory filing. Revenue growth in constant currency terms stood at 10.6 % on year on year basis. The company’s digital revenue, which contributes 32.2% of the total revenue, grew by 42% YoY. TCS has added 12,356 employees in Q1, the highest in the last five years. The company has issued Joining letters to over 30,000 fresh graduates. Forty percent of them have been onboarded in Q1 and the rest are expected to join by Q2.Consolidated headcount stood at 436,641 as of June 30, 2019.

“We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter. We are benefiting significantly from enterprises investing in Customer Experience to differentiate themselves in a Business 4.0 world. Our lean forward strategy is working well and our customers are benefiting from the TCS innovation ecosystem. Customers appreciate our end-to-end capabilities, and our holistic approach to transforming customer journeys that enable rapid product Innovation and speed to value” Rajesh Gopinathan, Chief Executive OffIcer and Managing Director, said .

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