Tata Consultancy Services (TCS), India’s largest IT company, has reported a 16.8 percent growth in net profit at Rs 11,074 crore in the first quarter ended June 2023 as against Rs 9,478 crore in the same period a year ago.
The company also posted a revenue of Rs 59,381 crore, registering a growth of 12.6 percent from the same period a year ago.
TCS Profit Rises a Profit Of Rs. 9 Per Offer
Among significant business sectors, the UK drove with 16.1 percent development, though fragments, for example, life sciences and medical care saw 10.1 percent development, and assembling saw a 9.4 percent rise, TCS said.
The TCS board has likewise suggested a profit of Rs 9 for each offer. On Wednesday, TCS shares fell 0.36 percent to Rs 3,260.20 on the BSE.
‘We Are Investing In Newer Technologies’ – 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,” said K Krithivasan, Managing Director and CEO.
BFSI Segment Grew By 3 Percent
According to TCS, the BFSI segment grew by 3 percent, retail and CPG by 5.3 percent, technology & services by 4.4 percent and communications & media expanded by 0.5 percent.
India Saw A Growth Of 14 %
Europe expanded by 3.4% and North America by 4.6%, respectively, with the exception of the UK. Middle East and Africa saw a growth of 15.2%, India saw a growth of 14%, Latin America saw a growth of 13.5%, and Asia Pacific saw a growth of 4.7% in emerging markets.