TCS Q1 Results: TCS Profit Up 5% To ₹9,478 Crores

TCS Q1 Results: TCS profit up 5% to ₹9,478 crores, declares ₹8 per share dividend.

The country’s largest IT company Tata Consultancy Services ie TCS (Tata Consultancy Services) declared the financial results for the first quarter of its current financial year (2022-23) on Friday.

TCS’s net profit grew 5.2 percent to Rs 9,478 crore in the first quarter.

The company’s profit has gone up to Rs 9,478 crore as compared to Rs 9,008 crore in the June quarter a year ago.

During this period, the company’s consolidated revenue from operations grew 16.2 percent year on year to Rs 52,758 crore.

TCS Q1 Results: Dividend declared at Rs.8 per share.

According to the news agency, the company has announced a dividend of Rs 8 per share for each equity share of the face value of Re 1 to its shareholders.

This dividend will come into the account of investors on August 3, 2022, for which the record date has been fixed as July 16, 2022.

Rajesh Gopinathan, CEO and MD, TCS said, “We are starting the new financial year on a strong note. We have achieved all-around growth and we have got strong deals across all segments.”

The deal currently under negotiation and the deals that have been done, both remain strong.

“But given the macro-economic uncertainties, we are cautious. Our new organization structure is well organized, and is bringing us closer to our customers.”

Challenging the first quarter from a cost management perspective.

The company’s CFO Sameer Seksaria said that this quarter has been challenging from a cost management perspective.

“Our operating margin of 23.1 percent in Q1 reflects our annual salary increase, higher cost of talent churn, and normalization of travel expenses.

However, our long-term cost structure and relative competitiveness remain the same, positioning us well to continue on a profitable growth trajectory.”