TCS Q1 FY25 Net Profit Increases 9% to Rs 12,040 Crore

CIOTechOutlook Team | Friday, 12 July 2024, 02:29 IST

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Tata Consultancy Services (TCS) has reported its financial results for the first quarter of fiscal year 2024-25, which show a 9% year-on-year growth in net profit to Rs 12,040 crore, up from Rs 11,042 crore in the same period last year.
 
According to an exchange filing, the business declared a Rs 10 dividend per share, demonstrating its commitment to returning wealth to shareholders. Revenue from operations increased by 5.4% to Rs 62,613 crore, compared to Rs 59,386 crore in the first quarter of the previous fiscal year.
 
TCS hired 5,452 new people between April and June 2024, demonstrating its continued commitment to talent acquisition and expansion.
 
K Krithivasan, CEO and Managing Director of TCS, emphasized the company's strategic initiatives in emerging technology and innovation. This involves launching new capabilities like an AI-focused TCS PacePort in France and expanding delivery hubs in Latin America, Canada, and Europe.
 
K Krithivasan, Chief Executive Officer and Managing Director, said: "I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets. We are continuing to expand our client relationships, create new capabilities in emerging technologies and invest in innovation, including a new AI-focused TCS PacePort™ in France, IoT lab in the US and expanding our delivery centers in Latin America, Canada and Europe."
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