TCS Q1 web revenue rises 5.2% to Rs 9,478 crore

India’s largest IT providers agency Tata Consultancy Services (TCS) on Friday reported a 5.2 per cent year-on-year rise in consolidated web revenue to Rs 9,478 crore for the primary quarter ended June 30.

The consolidated income from operations elevated 16.2 per cent year-on-year to Rs 52,758 crore within the first quarter of FY23.

TCS has declared an interim dividend of Rs 8 per fairness share of Re 1 every.

TCS Chief Executive Officer and Managing Director Rajesh Gopinathan mentioned: “We are starting the new fiscal year on a strong note, with all-round growth and strong deal wins across all our segments”.

“Pipeline velocity and deal closures continue to be strong, but we remain vigilant, given the macro-level uncertainties. Our new organisation structure has settled in nicely, getting us closer to our clients and making us nimbler in a dynamic environment.” TCS stays assured within the resilience of know-how spending and the secular tailwinds driving development, he mentioned in an announcement.

Its Chief Financial Officer Samir Seksaria mentioned it has been a difficult quarter from a value administration perspective.

“Our Q1 operating margin of 23.1 per cent reflects the impact of our annual salary increase, the elevated cost of managing the talent churn and gradually normalising travel expenses. However, our longer-term cost structures and relative competitiveness remain unchanged, and position us well to continue on our profitable growth trajectory,” Seksaria mentioned.