Tata Consultancy Services (TCS), India’s largest IT firm by sales, on Tuesday reported a 23.46 per cent year-on-year (YoY) growth in consolidated profit for June quarter at Rs 7,340 crore. The bottom line number surpassed the Rs 6,984.30 crore profit estimate that analysts had made in an ETNow poll. The company had posted Rs 5,945 crore profit for the same quarter a year ago. On a sequential basis, profit grew 6.31 per cent.Consolidated revenue for the quarter rose 15.80 per cent to Rs 34,261 crore from Rs 29,584 crore reported for the year-ago period. The outsourcing firm announced an interim dividend of Rs 4 per share.EBIT margin stood at 25 per cent in Q1FY19 compared with an estimate of 24.70 per cent that analysts had made in an ETNow poll.Segmentwise, revenue from BFSI increased 8.32 per cent on a QoQ basis and 14.21 per cent on a yearly basis to Rs 13,464 crore during the quarter.Commenting on Q1 earnings, CEO and MD, Rajesh Gopinathan said: "We are starting the new financial year on a strong note, with the growth engine firing on all cylinders. Our Banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, we are positioned well for the future." "Customers across verticals and markets are embracing our Business 4.0 thought leadership framework and accelerating their digital transformation journeys. Our contextual knowledge, full spectrum capabilities and investments in research and innovation are making us their preferred partner for their growth and transformation initiatives,” Gopinathan added.More to come...
from The Economic Times https://ift.tt/2NILRFE
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment