TCS Q1 profit up 23% at Rs 7,340 cr

Mumbai, July 10 

The country’s largest software exporter TCS on Tuesday posted a 23.4% rise in consolidated net profit to Rs 7,340 crore for the first quarter ended June 30.

The company had reported a net profit of Rs 5,945 crore in the same period previous fiscal, TCS said in a regulatory filing.

The company  saw its income from operations grow at 15.8% to Rs 34,261 crore for the first three months of the current financial year, up from Rs 29,584 crore a year earlier.

“We are starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. Our banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum,” TCS CEO and MD Rajesh Gopinathan said.

Gopinathan exuded confidence that the company is poised “well for the future” given a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand. — PTI