TCS reports strong growth in Q1 with increased net profit and revenue
TCS, India’s largest IT company, has reported a strong performance in the first quarter of the fiscal year. The company witnessed a 16.8% growth in net profit, reaching Rs 11,074 crore, and a 12.6% growth in revenue, amounting to Rs 59,381 crore.
“It is very satisfying to start the new fiscal year with a string of marquee deal wins. We remain confident in the longer-term demand for our services, driven by the emergence of newer technologies. We are investing early in building capabilities at scale on these new technologies, and in research and innovation, so we can maximize our participation in these opportunities,” said K Krithivasan, Managing Director and CEO.
The UK market showed the highest growth rate of 16.1%, while sectors such as life sciences and healthcare, as well as manufacturing, also experienced significant growth. TCS’s board has recommended a dividend of Rs 9 per share.