TCS registers net Q1 profits of Rs 5709 Crores

Tata Consultancy Services (TCS) reported a 12.9% YoY growth in profits. Its Profit After Tax (PAT) for the first quarter of the current financial year is at Rs 5709 Crores.

The company’s total revenue for Q1 is up by 16.1% YoY and 6.0% QoQ at Rs 25,668 Crores.

The company margin reported at on ehigher than what analysts predicted. It is currently at 26.3%. Utilization came in 86.3%. And the company reported volume growth of 4.8%.

Commenting on the results, TCS CEO N Chandrasekaran said, "Demand from core markets like North America & greater traction for 'Digital' solutions has driven volumes & growth in Q1." "We are investing to train over 100,000 professionals this year in all relevant technologies," he added.

TCS has fuelled hopes in India’s IT earnings this quarter which is expected to be good for most except Tech Mahindra.

(Image credit: Indiatimes)