TCS Profit Rises In June Quarter On Higher Demand For Cloud Services: Key Highlights

TCS Q1 Results: The company's net profit rose to Rs 9,008 crore in the June quarter
TCS Q1 Results: The company's net profit rose to Rs 9,008 crore in the June quarter
  1. The Mumbai-based IT services company's net profit in the first quarter of the current fiscal rose 28.5 per cent to Rs 9,008 crore, compared to Rs 7.008 crore in the corresponding quarter in the year-ago period. 
  2. The company's revenue from operations in the June quarter stood at Rs 45,411 crore on a consolidated basis, compared to Rs 38,322 crore, marking a growth of 18.5 per cent year-on-year.
  3. TCS said in its statement that the company's growth in the quarter was led by cloud platform services, cybersecurity, analytics and insights, as well as enterprise application services.
  4. The company also announced an interim dividend of Rs 7 per share, to be paid on Thursday, August 5, 2021 to the equity shareholders.
  5. The total income in the June quarter stood at Rs 46,132 crore, compared to Rs 38,920 crore in the same quarter last year.
  6. Its constant currency topline in the core markets and verticals grew 4.1 per cent during the quarter, whereas topline growth in rupee terms was at 3.9 per cent - lower than expectations
  7. In the year-ago quarter, the software services' performance was affected by clients cutting back on spending due to the COVID-19 pandemic.
  8. In the preceding January-March quarter of fiscal 2021, the company's net profit jumped 14.6 per cent to Rs 9,282 crore on a consolidated basis.
  9. On Thursday, July 8, shares of TCS settled 0.56 per cent lower at Rs 3,257.10 apiece on the BSE.