TCS Q1 net profit rises 17 pc to Rs 11,074 cr

The country’s largest software exporter TCS on Wednesday reported a 16.83 per cent jump in its June quarter net profit at Rs 11,074 crore. The Tata Group company had reported a net profit of Rs 9,478 crore in the year-ago period and Rs 11,392 crore in the preceding quarter. Its revenue from operations increased 12.55 per cent on a year-on-year basis to Rs 59,381 crore and was marginally up from the preceding March quarter’s Rs 59,162 crore. The company’s total expenses rose to Rs 45,789 crore from Rs 40,771 crore a year ago and Rs 44,946 crore in the preceding March quarter. TCS is the first major company to report its June quarter results. It can be noted that with headwinds in its key markets, the USD 250 billion Indian IT sector is widely expected to report volatility in the near term.