Business

See How TCS Has Performed In The First Quarter Of The Year

न्यूज़ वर्ल्ड इंडिया | 0
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| July 13 , 2017 , 17:43 IST

TCS is one of India's largest software firms and the results of its first quarter are out. It shows that the profit has declined by 5.9 per cent. Its consolidated net profit now stands at 5,945 crores for the April-June quarter, hit by currency volatility.

Although TCS has posted a marginal increase of 1 per cent in its consolidated revenue at Rs 29,584 crores during the quarter as against Rs 29,305 crore in the year-ago period.

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In the period from January To March, its net profit fell by 10 per cent whereas the revenue slipped by 0.2 per cent.

 TCS Chief Financial Officer V Ramakrishnan said during the quarter, high currency volatility, including sharp rupee appreciation against the dollar, resulted in Rs 650 crore loss in reported revenues.

"We remain disciplined in our financial management, stay focused on generating strong cash flows and invest in our digital business," he said.

Despite the impact of wage hikes in the first quarter, TCS continues to drive profitability to its targeted range, Ramakrishnan added.

The Ceo and MD Rajesh Gopinathan said that the company has witnessed steady growth in the first quarter of the fiscal year.

"We have had excellent wins across all markets and have a good deal pipeline across industries that positions us well for growth in FY18," he added.

TCS has also announced the interim dividend to be at Rs 7 per share.

(Inputs From PTI)