LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS
Read in App
Business News » Companies News

Why TCS posted a super-strong FY19 Q1 net profit

A Bloomberg poll of analysts had predicted TCS profit and revenue at Rs 7,018 crore and Rs 33,979 crore during Q1FY19. 

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Why TCS posted a super-strong FY19 Q1 net profit
Representational Image: Photo: Official website
Written By: ZeeBiz WebTeam
Updated: Wed, Jul 11, 2018
10:37 am
Mumbai, ZeeBiz WebDesk
RELATED NEWS
TCS to recruit 1,500 tech staff in UK TCS to recruit 1,500 tech staff in UK
Proud moment! India's TCS becomes world's largest IT company, beats Accenture! Surpasses Reliance Industries market capitalisation Proud moment! India's TCS becomes world's largest IT company, beats Accenture! Surpasses Reliance Industries market capitalisation
TCS reported a strong quarter with beat on revenues and margins TCS reported a strong quarter with beat on revenues and margins
TCS Share Price: Strong Performance in Q3, Management gains market share on strong demand outlook TCS Share Price: Strong Performance in Q3, Management gains market share on strong demand outlook
TCS Share Price: Details of the Q3 results Decoded by ICICI Securities TCS Share Price: Details of the Q3 results Decoded by ICICI Securities

Today on stock exchanges almost everyone would be keeping a close eye on performance of Tata Consultancy Services (TCS) share price. Yesterday, TCS posted first quarter of FY19 (Q1FY19) result and the IT giant did not fail to post a very strong performance. The company surpassed analysts estimates in both top-line and bottom-line growth during Q1FY19. The company posted net profit of Rs 7,362 crore up by 23.73% from Rs 5,950 crore in Q1FY18 and up by 6.31% from Rs 6,925 crore in Q4FY18. It further recorded revenue of Rs 34,261 crore above 15.81% from Rs 29,584 crore in Q1FY18 and higher by 6.82% from Rs 32,075 crore in Q4FY18. 

A Bloomberg poll of analysts had predicted TCS profit and revenue at Rs 7,018 crore and Rs 33,979 crore during Q1FY19. 

Considering this stellar performance, investors have shown their happiness over TCS stock price. 

 At around 1037 hours, TCS share price was trading at Rs 1,938.40 per piece above Rs 61.40 or 3.27%. The company has marked a new high of Rs 1,939 per piece on stock exchanges. The intention of investors were already revealed one day before TCS result announcement, that they were confident in the company’s earning this quarter. Investors had taken TCS share price to a high of Rs 1,930 per piece on BSE on June 09. 

Here’s a list of factors that helped TCS report a strong Q1FY19 result. 

Revenue growth accelerated in BFSI (+4.1%) and Retail & CPG (+12.7%) in 01. Growth was led by the Energy & Utilities vertical (+30.9%).

On geographical basis, North America bounced back growing + 7%, while UK (+18.7%), Continental Europe (+18.6%), and Asia Pacific (+10.8%) led the growth. 

Business & Technology Services had a strong quarter with several key deal wins and a healthy pipeline across all service lines. 

Digital revenue came at 25% which was up by 44.8% Y-o-Y.  All services saw strong growth and a healthy pipeline, as customers navigate the complexities of digitally re-imagining their business. Q1 saw strong demand for Cloud advisory and migration services, Cyber-security including GDPR, Identity & Access Management and Managed Security Services, Intelligent Process Automation, TCS Enterprise Cloud Platform, Interactive services, loT & Analytics services. 

The company expanded the partnership with M&G Prudential to deliver enhanced services for its UK savings and retirement customers, bringing the total number of policies managed by TCS to 5.8 million. 

Commenting on the Ql periormance, CEO and MO, Rajesh Gopinathan said: "We are starting the new fiscal 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.”

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Tata Consultancy ServicesTCS
RELATED NEWS
TCS to recruit 1,500 tech staff in UK TCS to recruit 1,500 tech staff in UK
Proud moment! India's TCS becomes world's largest IT company, beats Accenture! Surpasses Reliance Industries market capitalisation Proud moment! India's TCS becomes world's largest IT company, beats Accenture! Surpasses Reliance Industries market capitalisation
TCS reported a strong quarter with beat on revenues and margins TCS reported a strong quarter with beat on revenues and margins
TCS Share Price: Strong Performance in Q3, Management gains market share on strong demand outlook TCS Share Price: Strong Performance in Q3, Management gains market share on strong demand outlook
TCS Share Price: Details of the Q3 results Decoded by ICICI Securities TCS Share Price: Details of the Q3 results Decoded by ICICI Securities

LATEST NEWS

MTAR Technologies IPO: Last Day to subscribe for the issue, retail portion subscribed over 16 times on 2nd day

CBSE Class 10, Class 12 date sheet revised—check new time table, instructions here

IRCTC Share Price Outlook: Anil Singhvi predicts Rs 2500 target, lists out reasons to buy

Heranba IPO listing price today: Share soars to Rs 900 on debut - Anil Singhvi lays out strategy for investors

Call of Duty Mobile vs Garena Free Fire comparison: Here's all you need to know about these battle royale games

Stamp duty cut led to demand recovery in real estate sector: Gautam Singhania, Raymond

Trinamool candidate list 2021: Over 20 MLAs, ministers dropped from TMC candidacy for upcoming Assembly polls

TMC Candidates List 2021 - Names of 291 candidates announced for West Bengal Elections; See Complete List Here

Pope Francis arrives in Baghdad for risky, historic Iraq tour

JEE Main 2021 registration last date for March session closes tomorrow! Check exam dates, how to apply, admit cards and all other details

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved