TCS revenue grows 11.4% to Rs 38,172 crore in June quarter

Tata Consultancy Services (TCS) reported 11.4 percent growth in revenue to Rs 38,172 crore in the June 2019 quarter.
TCS NetherlandsDigital revenue of India’s largest software services firm accounted for 32.2 percent of the revenue, growing at 42.1 percent in the first quarter of fiscal 2019-20.

TCS achieved revenue growth of 18.1 percent in Life Sciences & Healthcare, 9.2 percent in BFSI, 7.9 percent in Retail & CPG, 8.4 percent in Communications & Media, 7.8 percent in Technology & Services and 5.5 percent in Manufacturing.

TCS achieved revenue growth of 16 percent in UK, 15.9 percent in India and 15 percent in Europe, 7.7 percent in North America, 9.5 percent in Asia Pacific, 6.4 percent in MEA and 6.4 percent in Latin America.

TCS reported 10.8 percent growth in net profit to Rs 8,131 crore for the quarter-ended June 30.

The company had employee addition of 12,356 employees — its highest in five years, taking the total headcount to 436,641 people.

“We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter,” TCS CEO and MD Rajesh Gopinathan said.

“Our margins this quarter fully reflect the annual increments that we effected across the board in April. Sustained rigour in operations helped deliver strong cash conversion and EPS expansion,” TCS CFO V Ramakrishnan said.