In the first quarter of FY23, the combined revenue from operations climbed 16.2% year over year to Rs 52,758 crore.
The largest provider of IT services in India, Tata Consultancy Services (TCS), announced on Friday that its consolidated net profit for the first quarter ended June 30 increased by 5.2% year over year to Rs 9,478 crore.
In the first quarter of FY23, the combined revenue from operations climbed 16.2% year over year to Rs 52,758 crore.
“We are starting the new fiscal year on a strong note, with all-around growth and strong deal wins across all our segments,” TCS Chief Executive Officer and Managing Director Rajesh Gopinathan said.
Pipeline velocity and transaction closings are still high, but given the macro-level uncertainty, we continue to be cautious. Our new organizational structure was established in well, bringing us nearer to our customers and allowing us to be more flexible in a fast-paced industry.
According to a statement he made, TCS is still optimistic about the durability of technological advances and spending and the secular tailwinds boosting growth.
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Its Chief Financial Officer Samir Seksaria noted that from the perspective of cost control, the quarter has been difficult.
The impact of our yearly wage rise, the high cost of managing talent churn, and the gradual normalizing of travel expenses are reflected in our operating margin of 23.1% in the first quarter. Our longer-term cost structures and relative competitiveness, on the other hand, are unaltered, and they put us in a good position to carry on with our profitable growth trajectory, according to Seksaria.
