TCS Share Price / TCS made a net profit of ₹12,040 crores in three months, how much did the revenue increase from the Indian market

TCS Share Price: The country and the world's leading software services company Tata Consultancy Services (TCS) said on Thursday that its integrated net profit in the first quarter of the current financial year grew 8.7 percent year-on-year to Rs 12,040 crore. According to the news of Bhasha, while releasing the financial results for the April-June, 2024 quarter, TCS said that its revenue grew by 5.4 percent to Rs 62,613 crore in the period under review. TCS's net profit was Rs 11,074 crore in the same period a year ago. TCS's net profit has come down by 3.1 percent as compared to the January-March, 2024 quarter.

Company's opinion on the pace of growth

According to the news, however, the Tata Group IT company expressed some uncertainty about maintaining this pace of growth for the rest of the financial year 2024-25. TCS Chief Executive Officer (CEO) and Managing Director K. On the quarterly results, Kritivasan said that I am happy to report a strong start to the new financial year with all-round growth across industries and markets. When asked about the possibilities of maintaining this pace, Kritivasan said that it may be difficult to make any assessment in this regard. He said that we will not say anything clearly about this. It is too early to say whether the pace of growth is sustainable or not, because the market conditions are the same as the previous quarter. Therefore, there is nothing new to add in terms of market sentiment. Kritivasan said that the company continues to invest in innovation, including expanding its customer relationships, creating new capabilities in emerging technologies, expanding IoT labs in the US and supply centers in Latin America, Canada and Europe.

How much did the revenue grow from the Indian market

From a geographical perspective, TCS's revenue from North America declined by 1.1 percent, reducing the share of the largest market to 49.5 percent. At the same time, revenue from the Indian market has grown by 61.8 percent as state-run telecom company BSNL is working to launch 4G network. The company's Chief Financial Officer Sameer Seksaria said that despite the normal impact of annual salary growth in the June quarter, TCS has achieved strong operational margins. The company's operational margin declined marginally to 24.7 percent in this quarter.

The company was successful in adding 5,452 new employees

TCS Chief Human Resources Officer Milind Lakkad said that in the last quarter, the company was successful in adding 5,452 new employees on a net basis. With this, the total number of employees of the company increased to about 6.07 lakh. Lakkad said that for the first time in the last several quarters, the number of employees has increased on a net basis. With a constant focus on employee engagement and their development, we were successful in retaining employees and demonstrating strong business performance. Along with this, TCS has announced an interim dividend of Rs 10 on every equity share of Rs 1.