TCS Q1 net profit zooms 23.4 pct to Rs 7,340 cr; check out highlights

Tata Consultancy Services (TCS) has announced that its Q1 net profit has jumped as much as 23.4% to Rs 7,340 crore. TCS added that revenue was up 15.8% at Rs 34,261 crore over year-ago period. After the announcement, Rajesh Gopinathan, CEO & MD, TCS reacted by saying, "In North America we have broken into the top 60 brands bracket". he also revealed that, "Digital now accounts for 25 % revenue." Earlier in the day, Tata Consultancy Services share price closed the day some 1 per cent lower ahead of its June quarter earnings announcement. TCS shares fell by 0.56 per cent to close at Rs 1,877 on BSE. During the day, it lost 0.79 per cent to Rs 1,872.60. 

Gopinathan added, "Our focus on machine first delivery model leverages automation in a very operational and value-add perspective especially in IgNIO."

Financial Highlights for Quarter Ended June 30, 2018

• Revenue at Rs 34,261 crore; +15.8 % Y-o-Y and 6.8% Q-o-Q
• Net Income at Rs 7,340 crore; +23.5% Y-o-Y and +6.3% Q-o-Q
• Operating Margin at 25%
• Net cash from operations at 103.7% of Net Profit
• Earnings Per Share at Rs 19.17 up 26.1% YoY; Dividend per share of  Rs 4.00
• Proposed record date 18/07/18; Payment date 25/07/18

Business Highlights for Quarter Ended June 30, 2018

• BFSI vertical growth accelerates: +4.1% YoY; +3.7% QoQ
• North America rebounds on BFSI and Retail recovery: +7% YoY; +3.7% QoQ
• Digital revenue at 25%, up 44.8% Y-o-Y
•  2 new clients in $100M+ band, 13 clients added in $5M+ band sequentially
• World’s largest Agile-ready workforce: 242,000+ employees Agile trained
• Total employees: 400,875; IT Services attrition rate at 10.9% LTM