TCS Q1 Results: The country’s largest IT company Tata Consultancy Services (TCS) has declared its quarterly results for the financial year 2023-24. There has been a 17 percent jump in the company’s profits. The net profit of the company between April to June quarter has been Rs 11,074 crore. While the company’s revenue has been Rs 59,381 crore, which is 13 percent more than the same quarter last year. With the declaration of TCS results, declaration of results for companies listed in the stock market has started.
TCS reported that the company’s order book stood at $10.2 billion in the April-June quarter, compared to $8.2 billion in the same quarter last year. TCS has added 523 new employees in the first quarter, while the attrition rate ie the number of people leaving the company has decreased by 17.8 percent. By June 30, 2023, the number of employees of TCS has increased to 6,15,318. It is believed that due to the global crisis and problems in the IT sector, there has been a decrease in hiring.
TCS has announced an interim dividend for its shareholders. The company has announced to give Rs 9 per share to the investors. The company’s CEO and MD K Krithivasan said that we have full confidence in the long-term demand for services on the basis of new technology. TCS’s Miling Lakkar told that the company has given a salary hike of 12 to 15 per cent to the outstanding performers.
TCS results came after the market closed. TCS Share has seen a decline in Wednesday’s trading session. TCS stock closed at Rs 3259.90, down 0.38 per cent. The market capitalization of the company has been Rs 11,92,814 crore.
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