TCS Q1 profit up 5.2% to Rs 9,478 cr

Mumbai, July 8

India’s largest IT services firm Tata Consultancy Services (TCS) on Friday reported a 5.2% year-on-year rise in consolidated net profit to Rs 9,478 crore for the first quarter ended June 30.

Strong footing

We are starting the new fiscal year on a strong note, with all-round growth and strong deal wins across all our segments. Rajesh Gopinathan, CEO and MD, TCS

The consolidated revenue from operations increased 16.2% year-on-year to Rs 52,758 crore in the first quarter of FY23. TCS has declared an interim dividend of Rs 8 per equity share of Re 1 each.

TCS Chief Executive Officer and Managing Director Rajesh Gopinathan said: “We are starting the new fiscal year on a strong note, with all-round growth and strong deal wins across all our segments”.

“Pipeline velocity and deal closures continue to be strong, but we remain vigilant, given the macro-level uncertainties. Our new organisation structure has settled in nicely, getting us closer to our clients and making us nimbler in a dynamic environment.” TCS remains confident in the resilience of technology spending and the secular tailwinds driving growth, he said.