TCS Announced Q1 FY 24 Financial Results

Highlights of the Quarter Ended June 30, 2023
• 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
• Diverse and inclusive workplace: Women in the workforce: 35.8% | 154 Nationalities
• Building a G&T workforce: 12.7 million learning hours clocked | 1.3 million competencies acquired.
• LTM IT Services attrition rate at 17.8%
• Dividend per share: Rs 9.00 | Record date 20/07/2023 | Payment date 07/08/2023

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New Delhi: Tata Consultancy Services (TCS) announced impressive financial results of first quarter, Financial Year 2024, with a net profit of Rs 11,074 crore, up 16.8% compared to the same period last year.

Last year the company posted Rs 9,478 crore results in FY22-23. The company also revealed that it has implemented its annual salary increase effective from April 1, with a margin of 23.2% reflecting the 200 basis point impact of the wage hike offset by improved efficiencies. 

K Krithivasan, Chief Executive Officer and Managing Director said: “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.”

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The company also informed that at the Board Meeting held today, the Directors have declared an interim dividend of Rs. 9 per Equity Share of Re. 1 each of the Company. 

The interim dividend shall be paid on Monday, August 7, 2023, to the equity shareholders of the Company, whose names appear on the Register of Members of the Company or in the records of the Depositories as beneficial owners of the shares as on Thursday, July 20, 2023, which is the Record Date, fixed for the purpose.

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