TCS: Q1 profit slips 13.8% YoY to Rs 7,008 cr, wins deals worth $6.9 bn

Tata Consultancy Services (TCS) kicked-off the earnings season for information technology (IT) companies for the April – June 2020 quarter of the financial year 2020-21 (Q1FY21) on Thursday and reported 13.8 per cent year-on-year (YoY) fall in its net profit at Rs 7,008 crore for the period under review.

The numbers also assume significance as Q1FY21 was marred by the Covid-19 induced national lockdown that started in March 2020-end. TCS is the first large-cap company to announce its financial performance for this period.

On a sequential basis, the net profit slipped 13 per cent. The company had logged a profit of Rs 8,131 crore in the year-ago period. Net sales/revenue came in at Rs 38,322 crore, up 0.4 per cent YoY.