Tata Consultancy Services reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending June 30, 2024.
Highlights of the Quarter Ended June 30, 2024
Revenue at `62,613 crore, +5.4% YoY, +4.4% YoY in Constant Currency
Operating Margin at 24.7%; an expansion of 1.5% YoY
Net Income at `12,040 crore, +8.7% YoY | Net Margin at 19.2%
Net Cash from Operations at `11,168 crore i.e. 92.8% of Net Income
Workforce strength: 606,998 | Net Headcount addition of 5,452
Diverse and inclusive workplace: Women in the workforce: 35.5% | 151 Nationalities
LTM IT Services attrition rate at 12.1%
Dividend per share: ` 10.00 | Record date 20/07/2024 | Payment date 05/08/2024
K Krithivasan, Chief Executive Officer and Managing Director, said: “I am pleased to report a strong start to the new fiscal year with all-round growth across industries and markets. We are continuing to expand our client relationships, create new capabilities in emerging technologies and invest in innovation, including a new AI-focused TCS PacePort™ in France, IoT lab in the US and expanding our delivery centers in Latin America, Canada and Europe.”
Samir Seksaria, Chief Financial Officer, said: “In spite of the usual impact of the annual wage increments in this quarter, we have delivered strong operating margin performance, validating our efforts towards operational excellence. We remain focused on making the right investments in R&I and talent, strengthening our superior return ratios and creating long term value for our stakeholders.”
Milind Lakkad, Chief HR Officer, said: “I am delighted to announce the successful completion of our annual increment process. Our continued focus on employee engagement and development led to industry-leading retention and strong business performance, with the net headcount addition being a matter of immense satisfaction.”
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