TCS Q1 results highlights: Tech major beats street estimates; check top 6 power points
TCS Q1 results highlights: Tech major beats street estimates; check top 6 power Tata Consultancy Services (TCS) reported its first quarter earnings today.
TCS Q1 results highlights: Tech major beats street estimates; check top 6 power Tata Consultancy Services (TCS) reported its first quarter earnings today. Its profit increased by 10.8% to Rs 8,131 crore in Q1 of the current financial year. The IT giant has delivered way better than the expected numbers as the experts were eyeing anywhere between 3% to 4% growth in revenue front.
The first quarter results are better than what street expected from the IT behemoth. However, the stock price of the TCS tumbled over 2.5% on NSE to settle at Rs 2,120, sliding 55.40 points on Tuesday's session ahead of Q1 result announcements. While it is going to be interesting, how it will behave tomorrow, as it has reported results that are beyond expectations.
Here are key highlights of the TCS Q1 results:
1. Tata Consultancy Services 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 same quarter last year.
2. Revenue for the quarter rose 11.4 per cent YoY to Rs 38,172 crore, the company said in a BSE filing. Revenue growth in constant currency terms stood at 10.6 per cent on a yearly basis.
3. Operating margin came in at 24.2 per cent against 25.1 per cent in March quarter and 25 per cent in the same last quarter. Net margin for the quarter under review stood at 21.3 per cent.
4. Net Cash from Operations was at Rs 8446 crore, i.e 103.9% of Net Income.
5. At the Board Meeting held today, the Directors of TCS have also declared an Interim Dividend of Rs 5 per Equity Share of Rs 1 each of the Company. The Interim Dividend shall be paid on Tuesday, July 23, 2019 to the equity shareholders of the Company.
6. The company also said that there was a net addition of 12,356 employees for the quarter, was highest in the last five years.
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