Business

Demand boost: TCS Q1 net up 37% at Rs. 3,318 cr

India's largest software exporter Tata Consultancy Services (TCS) on Thursday reported a 37% year-on-year rise in net profit at Rs. 3,318 crore during the April-June quarter on the back of strong growth across businesses and demand from key markets of North America, Europe and the UK.

Revenue grew 38% y-o-y at R14,869 crore during the quarter.

"We have seen strong, secular growth across all our service lines and industry segments, driven by robust volumes from key markets like North America, Europe and UK," said N Chandrasekaran, CEO, TCS. "We have also absorbed the impact of wage hikes and maintained our profitability in a volatile setting. We see good demand from global corporations as they successfully navigate an increasingly complex environment."

TCS added 29 new clients and 4,962 employees during the quarter. "The unprecedented volatility among major currencies and the Indian rupee will continue to be a challenge in the short term and we are taking the steps to mitigate any risks," said S Mahalingam, CFO, TCS.

 

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