TCS posts 10 per cent jump in Q1 profit
The company posted a net profit after tax (PAT) of Rs 6,318 crore.
MUMBAI: TCS on Thursday beat analysts’ estimates by reporting a 9.44 per cent jump in its net profit for the quarter ended June 2016. The company posted a net profit after tax (PAT) of Rs 6,318 crore for the April-June period as compared to Rs 5,773 crore reported during the same period last year, but marginally lower than Rs 6,347 reported during Q4FY16.
The company’s revenue increased to Rs 29,305 crore, up 14.16 per cent from June 2015. “Strong execution and accelerating customer adoption of cloud, big data and analytics have driven broad based growth across key markets and industries. Our investments in platforms are gaining significant traction as customers look to boost business agility and enhance their time-to-market advantage to gain a competitive edge,” said CEO N. Chandrasekaran.
In Q1FY17, TCS posted the incremental revenues of $155 million, the highest in last seven quarters upto Q1 driven by strong growth across markets in North America, UK and Europe.