TCS revenue grows 6.6% to $7.22 bn in first-quarter

Tata Consultancy Services (TCS) has reported 6.6 percent increase in revenue to $7.226 billion for the quarter ending June 30, 2023.
TCS NetherlandsTCS has reported operating margin of 23.2 percent and net income of $1.347 billion during the first quarter of fiscal 2023-24.

TCS added 523 employees during the April-June 2023. TCS has an employee base of 615,318 at the end of June 30, 2023.

TCS said growth was led by Life Sciences and Healthcare which grew 10.1 percent and the Manufacturing vertical which grew 9.4 percent. BFSI grew 3 percent, Retail and CPG grew 5.3 percent, Technology & Services grew 4.4 percent while Communications & Media grew 0.5 percent.

TCS said among major markets, the United Kingdom led with 16.1 percent growth; North America grew 4.6 percent and Continental Europe grew 3.4 percent. In emerging markets, Middle East & Africa grew 15.2 percent, India grew 14 percent, Latin America grew 13.5 percent, and Asia Pacific grew 4.7 percent.

TCS has generated 52.0 percent of its revenue from North America, 2.0 percent from Latin America, 16.4 percent from the UK, 14.9 percent from Continental Europe, 7.8 percent from Asia Pacific, 4.9 percent from India and 2.0 percent from the Middle East and Africa region.

TCS has generated 31.0 percent of its revenue from BFSI, 15.7 percent from Retail & CPG, 10.5 percent from Life Sciences & Healthcare, 10.2 percent from Manufacturing, 8.6 percent from Technology & Services, 6.4 percent from Communication & Media and 17.6 percent from Regional Markets & Others.

TCS has 1,268 (1,196) clients with tech deal size of $1 million +, 677 (650) with $5 million +, 468 (446) with $10 million +, 296 (272) with $20 million +, 137 (124) with $50 million + and 60 (59) with $100 million +.

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