TCS profit up 9%, FY25 will be better than FY24: CEO
The company’s revenue from operations for Q1 FY25 beat Street estimates and was at Rs 62,613 crore, a 5.4% increase YoY compared to Rs 59,381 crore.
BENGALURU: The country’s largest IT services company Tata Consultancy Services (TCS) on Thursday reported a 8.7% increase in its consolidated net profit for the June quarter at Rs 12,040 crore, compared to Rs 11,074 in the same quarter last year.
The company’s revenue from operations for Q1 FY25 beat Street estimates and was at Rs 62,613 crore, a 5.4% increase YoY compared to Rs 59,381 crore. The IT firm’s operating margin for the quarter stood at 24.7%, an expansion of 1.5% YoY.
In June quarter, the company’s order book was at $8.3 billion, which is 18.6% lower compared to $10.2 billion total contract value (TCV) the company reported in the year-ago period.
Briefing the media, K Krithivasan, CEO and MD, said, “There is no specific delay in orders getting closed. In this particular quarter, we expected some projects to close but that did not close in Q1 and moved into Q2. There is nothing much to read
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