TCS Reports Net Profit Of Rs 5,945 Crore In Q1

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TCS Reports Net Profit Of Rs 5,945 Crore In Q1

TCS reported net profit of Rs 5,945 crore in June quarter.

India's biggest outsourcer TCS announced its June quarter (Q1) earnings after market hours today. TCS reported net profit of Rs 5,945 crore in June quarter, down 10% from Rs 6,608 crore posted in March quarter. Earnings of TCS assumes significance as the $150 billion Indian IT sector is facing challenges in the business environment and stricter work permit regime in countries like the US, Singapore, Australia and New Zealand.

Here are the key highlights:




Jul 13, 2017
17:29 (IST)
TCS' global HR Head Ajoy Mukherjee said: "We continue to hire talent across markets and help TCSers gain new digital skills so that they can participate successfully in digital economy."
Jul 13, 2017
17:25 (IST)
TCS said that its total employee strength at the end of June quarter was 3.85 lakh with gross addition of 11,202 and net addition of 1,414 during the quarter.
Jul 13, 2017
17:23 (IST)
"Revenue from Digital in Q1 has increased to 18.9%", says TCS CEO Rajesh Gopinathan.
Jul 13, 2017
17:22 (IST)
"Q1 hiring: 11,202 and attrition is down to 11.6 % for IT services", says TCS CEO Rajesh Gopinathan.
Jul 13, 2017
17:22 (IST)
"In BFSI we're seeing a strong demand from the bottom of the pyramid, as new entrants are coming into the sector," says TCS CEO Rajesh Gopinathan.
Jul 13, 2017
17:19 (IST)
Jul 13, 2017
17:14 (IST)
TCS operating margin fell to 23.4 per cent in June quarter from 25.7 per cent in March quarter. 
Jul 13, 2017
17:11 (IST)

Over 82 per cent of TCS' revenues came from major markets like Americas, UK, Europe, and Australia, where our business has a fair share of annuity-based revenues and therefore less volatile. Our revenues from rest of the world or businesses tend to be more volatile on account of their project-centric nature, TCS said in a press release.
Jul 13, 2017
17:03 (IST)
In dollar terms, TCS reported a revenue of $4,591 million, up 3.1 per cent sequentially.
Jul 13, 2017
16:57 (IST)
Commenting on the Q1 performance, CEO and MD, Rajesh Gopinathan said: "We have seen steady growth across industries in Q1. Robust volumes from major markets driven by good client additions across revenue bands and accelerating Digital adoption from customers have given us the right start to the year."
Jul 13, 2017
16:54 (IST)
Commenting upon the Q1 earnings, V. Ramakrishnan, chief financial officer, said: "During the quarter high currency volatility including sharp rupee appreciation against the dollar resulted in Rs 650 crore loss in reported revenues. We remain disciplined in our financial management, stay focused on generating strong cash flows and invest in our digital business. Despite the impact of wage hike in Q1, we continue to drive profitability to our targeted range."
Jul 13, 2017
16:50 (IST)
The board of directors of TCS has announced an interim dividend of Rs 7 per share to its shareholder.
Jul 13, 2017
16:47 (IST)
Total income from operation for TCS stood at Rs 29,584 crore compared with Rs 29,642 crore in the March quarter, down 0.19%.
Jul 13, 2017
16:46 (IST)
TCS reports net profit of Rs 5,945 crore in June quarter, down 10 per cent from Rs 6,608 crore posted in March quarter.
Jul 13, 2017
16:00 (IST)
Including today's gain, TCS shares have so far gained 3.41 per cent this year compared with 20.32 per cent surge in the Sensex.
Jul 13, 2017
15:36 (IST)
TCS shares closed 0.28% higher at Rs 2,446.40 compared to 0.73% gain in the broader Sensex.
Jul 13, 2017
15:28 (IST)
Global IT research firm Gartner today lowered its 2017 IT spending growth estimate further to 2.4 per cent from the 2.7 per cent earlier on worries on digitisation. The firm had first predicted for a 3 per cent growth in worldwide IT spends, which got revised down to 2.7 per cent in January this year.
Jul 13, 2017
15:25 (IST)

Jul 13, 2017
15:20 (IST)
TCS shares are off its day's high, up 0.27% at Rs 2,446.25
Jul 13, 2017
15:14 (IST)
"Increasing protectionist measures (increasing cost of doing business) coupled with pockets of weakness in some industry verticals and appreciation of the rupee (especially against USD) will dampen the earnings performance of IT companies in the near to medium term," the brokerage said.
Jul 13, 2017
15:13 (IST)
Domestic brokerage Sharekhan expects TCS to report a net profit of Rs 6,219 crore on revenues of Rs 29,664 crore for the June quarter. The brokerage has a "hold" rating on the TCS.
Jul 13, 2017
14:42 (IST)
According to domestic brokerage Edelweiss Securities, here are the five things that need to be closely watched in TCS Q1 earnings: 1) revenue growth traction of digital services; 2) management commentaries on clients budgets; 3) growth in key verticals such as BFSI, manufacturing, retail, healthcare, etc; 4) pace of local hiring due to expected changes in visa regime; and 5) pace of commoditisation of legacy business and impact of same on demand outlook.
Jul 13, 2017
14:37 (IST)
TCS shares have underperformed the broader markets this year. Its shares have risen nearly 3 per cent in this year so far compared to over 19 per cent gain in the broader Sensex.
Jul 13, 2017
14:23 (IST)
TCS shares up 0.41% at Rs 2,449 in afternoon trade on NSE
Jul 13, 2017
14:21 (IST)
TCS had reported a net profit of Rs 6,608 crore on revenues of Rs 29,642 crore in the January-March quarter. In dollar terms, TCS' revenue grew 1.5 per cent sequentially to $ 4,452 million. However, in constant currency terms it registered 1 per cent quarter-on-quarter growth in Q4 of last fiscal.. 
Jul 13, 2017
14:20 (IST)
TCS Q1 expectations: Morgan Stanley expects TCS to report net profit of Rs 5,999 crore on revenue of Rs 29,797 crore.
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