TCS Q1 profit up 28.5% to Rs 9,008 crore

IT major TCS on Thursday posted a 28.5 per cent increase in consolidated net profit at Rs 9,008 crore for the first quarter ended June 30, 2021.

The country's biggest software services firm had posted a consolidated profit of Rs 7,008 crore in the same quarter a year ago.

Consolidated revenue from operations increased by 18.5 per cent to Rs 45,411 crore compared to Rs 38,322 crore in the corresponding quarter of 2020-21.

The company's workforce crossed the 5 lakh-mark at 5,09,058 with the highest-ever quarterly net addition of 20,409 people.

TCS chief executive officer and managing director Rajesh Gopinathan said the firm's employees have demonstrated phenomenal character in helping each other, being meaningful to the communities and delivering on 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, relevance of our offerings and above all, the passion and dedication of our associates," he said in a statement.

He added that given the variants of the virus and fears of a potential third wave, the company is watchful of the emerging situation and remains optimistic of the opportunities in core markets and verticals.

"We crossed the $6 billion milestone in quarterly revenue this quarter.

“In addition to our annual salary increase and promotions, we undertook one of the largest vaccination drives in the private sector.

"Despite this and headwinds in regional markets, we expanded our Q1 operating margin year on year, reflecting the inherent resilience of our business model," TCS chief financial officer Samir Seksaria said.