TCS Q1FY22 Results: IT major posts 28.5 pc rise in profit at Rs 9,008 cr; consolidated revenue at Rs 45,411 cr

Software behemoth and IT major Tata Consultancy Services Ltd has reported a 29% rise in quarterly profit on Thursday, powered by higher demand from businesses ramping up digital services during the COVID-19 crisis.
Net profit rose to 90.08 billion rupees ($1.20 billion) in the three months to June 30 from 70.08 billion rupees a year earlier.
Revenue from operations jumped 18.5% to 454.11 billion rupees.

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See Key highlights here:

- Core Markets and Verticals grow 4.1% in CC; Overall volume grows 4.4% - Revenue at `45,411 crore | Growth of +3.9% QoQ, +18.5% YoY

- Industry Verticals (ex Regional Markets & Others) grow +4.1% QoQ, +18.5% YoY in CC

- Net Income at `9,008 crore | Growth of +28.5% YoY - Operating Margin at 25.5% | Expansion of +1.9% YoY

- Order Book at $8.1 Bn | Growth of +17.3% YoY

- Workforce crosses the 500K milestone: Headcount at 509,058

Tata Consultancy Services is the leading global IT services, consulting and business solutions organisation, reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending June 30, 2021.

- Constant Currency revenue growth: +16.4% YoY • Operating Margin at 25.5%; expansion of 1.9% YoY

- Net Income at `9,008 crore, +28.5% YoY | Net Margin at 19.8%

- Net Cash from Operations at `10,296 crore ie 114.3% of Net Income

- Highest ever quarterly net headcount addition of 20,409 |Workforce strength: 509,058

- Diverse and inclusive workplace: Women in the workforce: 36.2% | 155 Nationalities

- Building a G&T workforce: 407K+ employees trained in new technologies | 19K Contextual Masters identified | 3,500 Elevate graduates

- Best in class talent retention: LTM IT Services attrition rate at 8.6%; lowest in the industry

- Dividend per share: Rs 7.00 | Record date 16/07/2021 | Payment date 05/08/2021

“I am humbled that in a personally challenging quarter to many, TCSers demonstrated phenomenal character in helping each other, be meaningful to the communities and delivered on our commitments to clients. On that backdrop, our business in North America, BFSI and Retail all showed an appreciable growth which underlines the resilience of our operating model, relevance of our offerings and above all, the passion and dedication of our associates. Given Page 2 of 13 the variants of the virus and fears of a potential third wave, we are watchful of the emerging situation and remain optimistic of the opportunities in our core markets and verticals. We are well positioned and operating diligently to participate in them aggressively,” Rajesh Gopinathan, Chief Executive Officer and Managing Director, said.