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earnings | IST

TCS Q1 result 2021: Net profit up 28.5% to Rs 9,008 crore; misses estimates

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TCS Q1 result: The country's largest software services exporter on Thursday reported a 28.5 percent jump in its net profit to Rs 9,008 crore for the quarter ended June 30, 2021.

Tata Consultancy Services (TCS), the country's largest software services exporter on Thursday reported a 28.5 percent jump in its net profit to Rs 9,008 crore for the quarter ended June 30, 2021.
In the corresponding quarter last year, the Mumbai-headquartered company posted a net profit of Rs 7,008 crore. CNBC-TV18 Poll had predicted a profit of Rs 9,352 crore for the quarter under review.
The IT major posted an 18.5 percent growth in consolidated revenue at Rs 45,411 crore in Q1 FY22 as compared to Rs 38,322 crore in Q1 FY21. Revenue in constant currency terms up 16.4 percent YoY.
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"We would like to inform you that at the Board Meeting held today, the Directors have declared an Interim Dividend of Rs 7 per equity share of Rs 1 each of the company," it said.
The company's workforce crossed the 5 lakh-mark at 5,09,058 with the highest-ever quarterly net addition of 20,409 people.
Rajesh Gopinathan, chief executive officer and managing director, said the firm's employees have demonstrated phenomenal character in helping each other, being meaningful to the communities and delivering on commitments to clients.
"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, the relevance of our offerings and above all, the passion and dedication of our associates," he said in a statement.
The results came after the close of the market hours. Shares of TCS ended at Rs 3,257.10, down Rs 18.20, or 0.56 percent on the BSE.