TCS Q1 Profits Grow 6% to ₹12,760 Crore, Interim Dividend Announced
Tata Consultancy Services (TCS), India’s leading IT services company, has posted a solid performance in the first quarter of the financial year. The company reported a 6% year-on-year increase in net profit, reaching ₹12,760 crore. The board also declared an interim dividend of ₹11 per share, bringing good news to investors.
Revenue Growth and Margin Expansion
While the profit growth is impressive, revenue growth was more modest. TCS reported revenue of ₹63,437 crore for Q1, a 1.3% increase compared to the same period last year. However, the company showed improvement in its operating margin, which expanded by 30 basis points quarter-on-quarter to 24.5%. The net margin for the quarter stood at a healthy 20.1%.
No Wage Hike Announced Yet
Despite the positive financial results, TCS has not yet announced a wage hike for its employees. This might be a point of interest for many following the company’s performance. Further details on compensation adjustments are expected in subsequent announcements.
