TCS Q1 results: Net profit falls over 2.50% Q-o-Q, announces dividend of Rs 7

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IT major Tata Consultancy Services on Thursday posted 2.57% quarter-on-quarter fall in net profit attributable to shareholders of the company at Rs 9,008 crore for the quarter ended June 30. It had posted a profit of Rs 9,246 crore in the sequential quarter ended March 31. On the other hand, consolidated revenue from operations increased by 3.90% Q-o-Q to Rs 45,411 crore.

The company also announced an interim dividend of Rs 7 per share. This will be paid on Thursday, August 5, 2021 to the equity shareholders of the company. The company has fixed July 16 as the record date for the purpose of dividend.

Rajesh Gopinathan, chief executive officer and managing director, said, “Our business in North America, BFSI and Retail all showed an appreciable growth which underlines the resilience of our operating model.”

N Ganapathy Subramaniam, chief operating officer and executive director, said, “We overcame the challenges posed by the second wave of Covid-19 in India taking some practical approaches and am satisfied that the delivery of all our client engagements was kept on track. We once again had a superior quarter with a TCV of $8.1 billion which is broad-based across markets and verticals.”

Samir Seksaria, chief financial officer, said, “We crossed the $6 billion milestone in quarterly revenue this quarter. We expanded our Q1 operating margin year on year, reflecting the inherent resilience of our business model. Looking ahead, we stay focused on making the right investments to power our expansion in the growth and transformation opportunity, while sustaining our industry-leading profitability.”

TCS’ employee headcount crossed the 5,00,000 mark in Q1, with 509,058 employees as of June 30, a net addition of 20,409 its highest quarterly net addition ever. “The workforce continues to be very diverse, comprising 155 nationalities and with women making up 36.2% of the workforce,” the IT major said in a release.