TCS net up 16.8% in Q1; margin & attrition dip amid a strong orderbook

Market leader Tata Consultancy Services on Wednesday posted a 16.8 per cent year-on-year increase in net profit for the first quarter (April-June) but witnessed flat revenue in dollar terms compared to the January-March quarter.

However, the company, India’s largest software services exporter, reported a strong deal pipeline with a sharp fall in attrition for the quarter, though project ramp-downs continued to be a drag on revenue growth.

During the first quarter ended June, TCS’ net profit was at Rs 11,074 crore, a rise of 16.8 per cent over the same period last fiscal. Its revenue was at Rs 59,381 crore, which was an increase of 12.6% per cent year-on-year.