TCS Q1FY24 Results: Profit up 16.8% at Rs 11,074 crore on, says growth on ‘marquee deal wins’

Tata Consultancy Services on Wednesday posted its fiscal first quarter profit at Rs 11,074 crore, up 16.8 per cent in comparison to Rs 9,478 crore during the same period last year. TCS net profit surpassed estimates of Rs 10,866 crore. The IT services major posted its revenue from operations for Q1FY24 at Rs 59,381 crore, up 12.6 per cent as against Rs 52,758 crore during the first quarter of FY23. According to a CNBC TV18 poll, it was expected to post revenue for the quarter at Rs 59,450 crore. While the total income for the quarter was at Rs 60,778 crore, TCS posted total expenses during Q1FY24 at Rs 45,789 crore. TCS also declared an interim dividend of Rs 9 per equity share of Re 1 each of the company.