TCS Q1 results: Profit slips 13.81% to Rs 7,008 crore; misses estimates

New Delhi: Tata Consultancy Services (TCSNSE 1.71 %), India’s biggest IT company, on Thursday reported 13.81 per cent year-on-year (YoY) fall in profit at Rs 7,008 crore for the first quarter ended June 30. Analysts in an ET NOW poll had projected the figure at Rs 7,680 crore.

Consolidated revenue of the company inched higher by 0.39 per cent on a yearly basis to Rs 38,322 crore.

Commenting on the TCS Q1 performance, CEO and MD Rajesh Gopinathan, said: “The revenue impact of the pandemic played out broadly along the lines we had anticipated at the start of the quarter. It affected all verticals, with the exception of Life Sciences and Healthcare, with varying levels of impact. We believe it has bottomed out, and we should now start tracing our path to growth.”