INSUBCONTINENT EXCLUSIVE:
TCS had posted a net profit of Rs 6,904 crore on net income from operations of Rs
32,075 crore in Q4Kicking off the corporate earnings season, TCS or Tata Consultancy Services on Tuesday reported a record net profit of Rs
7,340 crore in the April-June quarter, beating analysts' estimates
Net profit grew about 24 per cent on a year-on-year basis helped by strong growth in its banking, financial services and insurance
32,075 crore."We are starting the new fiscal year on a strong note, with the growth engine firing on all cylinders
Our banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum
With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, we are positioned well for the
robust start to financial year 2018-19, the company noted
Revenue growth in the BFSI vertical increased to 4.1 per cent annually and 3.7 sequentially.Operating margin lowered to 24.8 per cent in Q1
Importantly, BFSI is back on the growth path
currency support helped us mitigate the impact of wage increases during the quarter
This strong start gives us greater confidence in our ability to get our operating margin to our preferred range, while continuing to fund
services such as cloud, analytics and big data grew about 44.8 per cent from a year earlier
against the US dollar so far this year
Since Q4, it has declined 5.6 per cent against the greenback
Weakness in the rupee against the American currency boosts profitability for exporters
On Tuesday, the rupee edged lower to settle at 68.83.TCS reported a total attrition rate of 10.9 per cent, marking slight recovery from 11
capitalisation (M-Cap) of more than $100 billion.TCS shares closed 0.6 per cent lower at Rs 1,877 on the BSE earlier on Tuesday.
