Business News›Markets›Stocks›Live Blog›TCS Q1 Results Live: PAT at Rs 11,070 cr vs ET Now poll of Rs 10,890 cr; dividend of Rs 9 per share declared
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Economic Times | 12 Jul, 2023 | 06:09PM IST
TCS Q1 Results Live: PAT at Rs 11,070 cr vs ET Now poll of Rs 10,890 cr; dividend of Rs 9 per share declared
TCS Q1 Results Live: The software major is scheduled to release its earnings for the first quarter of the current financial year on Wednesday.
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TCS rolls out salary hike, takes 200-bps impact on operating margin
While Infosys has reportedly deferred a pay hike, India's largest software services exporter Tata Consultancy Services (TCS) has gone ahead with a salary hike to take 200-bps hit on its operating margin.
"We have gone ahead and rolled out our annual salary increase with effect from April 1st. Our operating margin of 23.2% reflects the 200-bps impact of this hike, offset through improved efficiencies," TCS CFO Samir Seksaria said.
Read more at:
https://economictimes.indiatimes.com/markets/stocks/news/tcs-rolls-out-salary-hike-takes-200-bps-impact-on-operating-margin/articleshow/101698081.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
"We have gone ahead and rolled out our annual salary increase with effect from April 1st. Our operating margin of 23.2% reflects the 200-bps impact of this hike, offset through improved efficiencies," TCS CFO Samir Seksaria said.
Read more at:
https://economictimes.indiatimes.com/markets/stocks/news/tcs-rolls-out-salary-hike-takes-200-bps-impact-on-operating-margin/articleshow/101698081.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
Our products and platforms achieved major milestones during the quarter with several transformational engagements going live. In the UK Life and Pensions administration space, we signed three new deals on our digital insurance platform, making TCS the undisputed leader in this market on any metric. We are proactively building differentiating capabilities in generative AI and actively working on such projects with our clients, delivering impact on technology, operations and client experience dimensions.
- N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, TCS
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.
- K Krithivasan, Chief Executive Officer and Managing Director, TCS
Key Highlights
- Revenue at Rs 59,381 crore, +12.6% YoY
- Constant Currency revenue growth: +7% YoY
- Operating Margin at 23.2%; an expansion of 0.1% YoY
- Net Income at Rs 11,074 crore, +16.8% YoY | Net Margin at 18.6%
- Net Cash from Operations at Rs 11,353 crore ie 102.5% of Net Income
- Net headcount addition of 523 |Workforce strength: 615,318
TCS Q1 Results: Profit rises 17% YoY to Rs 11,074 crore, beats estimates; revenue up 13%
Technology major Tata Consultancy Services (TCS) reported a nearly 17% year-on-year (YoY) rise in consolidated net profit for the June quarter to Rs 11,074 crore. Consolidated revenue increased nearly 13% YoY to Rs 59,381 crore.
While the net profit was above the ET Now poll of Rs 10,890 crore, the revenue was tad lower than the estimated Rs 59,500 crore.
While the net profit was above the ET Now poll of Rs 10,890 crore, the revenue was tad lower than the estimated Rs 59,500 crore.
Q1 Results: TCS declares interim dividend of Rs 9 per share.
TCS Q1 Results: PAT at Rs 11,070 cr vs Poll of Rs 10,890 cr; cons revenue at Rs 59,381 cr vs poll of Rs 59,500 cr
TCS shares end on a flat note ahead of Q1 show
Price as on 12 Jul, 2023 03:47 PM, Click on company names for their live prices.
Schedule of Events for TCS Q1 Earnings
Source: TCS Website
How to trade TCS ahead of numbers?
Shares of TCS have been trading in a tight range since a while, with Rs 3,300 acting as a strong resistance level.From the derivatives point of view, the option chain reflects unwinding of positions in put options at various strikes, which definitely hints on a weak texture for the stock, said Shilpa Rout, derivatives analyst, Prabhudas Lilladher.
SNAPSHOT | How TCS has performed post quarterly numbers
TCS shares trade marginally lower ahead of Q1
Price as on 12 Jul, 2023 03:20 PM, Click on company names for their live prices.
Q1 Preview | What to expect from TCS earnings?
Indian IT sector bellwether Tata Consultancy Services (TCS) is expected to report a double-digit growth both in the net profit and sales for the June quarter on a year-on-year (YoY) basis.
Sequentially, however, the topline growth is likely to be the slowest in 12 quarters, while the bottomline is set to decline for the first time in four quarters.
Sequentially, however, the topline growth is likely to be the slowest in 12 quarters, while the bottomline is set to decline for the first time in four quarters.
IT bellwether TCS to kick off Q1 earnings season for D-Street bigwigs today
