TCS Q1 net up 10.8% on strong growth in digital, BFSI businesses

Tata Consultancy Services on Tuesday reported 10.8 per cent growth in consolidated net profit to ₹8,131 crore for the quarter-ended June 30 from ₹7,340 crore in the year-ago period.

Revenue of the Tata group company grew 11.4 per cent to ₹38,172 crore in the June quarter, compared to ₹34,261 crore in the year-ago quarter.

Digital revenue accounted for 32.2 per cent of the topline, growing 42.1 per cent in the said quarter. BFSI, the largest vertical for TCS, grew 9.2 per cent year-on-year.

“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.