New Delhi: India’s largest IT services firm Tata Consultancy Services (TCS) on Friday reported a 5.2 per cent rise in consolidated net profit at Rs 9,478 crore for the first quarter ended June 30. Consolidated revenue from operations increased 16.2. 52,758 crore on a year-on-year basis in the first quarter of FY23.
TCS has declared an interim dividend of Rs 1 per equity share of Rs 8. (Also read: Mumbai: Cyber fraudster duped woman’s bank Rs 3.77 lakh to sell furniture)
Rajesh Gopinathan, Chief Executive Officer and Managing Director, TCS said: “We are starting the new financial year on a strong note, with all-round growth and strong deal wins across all our segments”. (Also read: Market rises for third day, Sensex rises over 300 points)
“Pipeline velocity and deal closure remain strong, but we remain cautious given macro-level uncertainties. Our new organization structure is well settled, bringing us closer to our customers and agile in a dynamic environment.” She is making.”
TCS remains confident in the flexibility of technology spending and secular tailwinds driving growth, he said in a statement.
Its Chief Financial Officer Sameer Seksaria said the quarter has been challenging from a cost management perspective.
“Our Q1 operating margin of 23.1 percent reflects the impact of our annual salary increase, higher cost of managing talent churn and gradually normalizing travel expenses. However, our long-term cost structure and relative competitiveness remain unchanged, And that puts us in a good position to continue on our profitable growth trajectory,” Seksaria said.