BENGALURU: The country's largest IT services company Tata Consultancy Services (TCS) on Thursday reported an 8.7% increase in its consolidated net profit for the June quarter at Rs 12,040 crore, compared to Rs 11,074 in the same quarter last year.
The company's revenue from operations for Q1 FY25 stood at Rs 62,613 crore, a 5.4% increase y-o-y compared to Rs 59,381 crore. TCS' Operating Margin for the quarter stood at 24.7%, an expansion of 1.5% Y-o-Y.
K Krithivasan, Chief Executive Officer and Managing Director said, “We are continuing to expand our client relationships, create new capabilities in emerging technologies and invest in innovation, including a new AI-focused TCS PacePort in France, IoT lab in the US and expanding our delivery centres in Latin America, Canada and Europe.”
Samir Seksaria, Chief Financial Officer, said, “Despite the usual impact of the annual wage increments in this quarter, we have delivered strong operating margin performance, validating our efforts towards operational excellence. We remain focused on making the right investments in R&I and talent, strengthening our superior return ratios and creating long-term value for our stakeholders.”
The company's net headcount addition in the quarter was 5,452 and the attrition rate stood at 12.1%. TCS also announced that it completed its annual increment process. The BFSI segment witnessed 30.9% growth, a 0.9% decline compared to 32.5% in Q1 FY24. The manufacturing segment grew 9.4% in the quarter and Life Sciences and Healthcare grew 4% y-o-y.
The company has declared an interim dividend of Rs 10 per Equity Share and it will be paid on August 5, 2024.