TCS: Net Profit Up 9% In Q1FY25 TCS net profit rose 9 percent to INR 12,040 crore from INR 11,074 crore in the year-ago period
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Tata Consultancy Services (TCS), reported a rise in net profit for the first quarter of financial year 2024-2025. TCS net profit rose 9 percent to INR 12,040 crore from INR 11,074 crore in the year-ago period. AI.Cloud, cyber security and enterprise solutions led the growth this quarter.
Revenue from operations increased 5 percent to INR 62,613 crore for the June quarter as against INR 59,381 crore in the same quarter last fiscal.
"I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets. We are continuing to expand our client relationships, create new capabilities in emerging technologies and invest in innovation, including a new AI-focused TCS PacePort in France, IoT lab in the US and expanding our delivery centers in Latin America, Canada and Europe," said K Krithivasan, CEO and MD, TCS.
The company said that in spite of the usual impact of the annual wage increments in this quarter, the company has delivered strong operating margin performance, validating its efforts towards operational excellence.
The company's consolidated operating margin for the quarter stood at 24.7 per cent, indicating a year-on-year expansion of 1.5 per cent. Additionally, the net margin was recorded at 19.2 per cent.
As on June 30, 2024, the company has applied for 8,194patents, including 154 applied during the quarter, and has been granted 4,146 patents including 227 granted during the quarter. TCS' workforce stood at 606,998 as on June 30th. "I am delighted to announce the successful completion of our annual increment process. Our continued focus on employee engagement and development led to industry-leading retention and strong business performance, with the net headcount addition being a matter of immense satisfaction," Milind Lakkad, chief HR officer, said.
