December 16, 2024 22:38 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
GRAP 4 restrictions reimposed in Delhi as air quality dips to 'severe' category | 39 ministers included in Devendra Fadnavis-led Maharashtra cabinet | People who raise questions on EVMs should show how they can be hacked: TMC trashes Congress claims | Bangladesh likely to hold national polls in late 2025 or early 2026, says Yunus in Victory Day speech | Constitution stood test of time: Nirmala Sitharaman in Rajya Sabha | PM Museum requests Rahul Gandhi to return Pandit Nehru's historical letters | Indian tabla maestro Zakir Hussain dies at 73 in San Francisco, confirms family | Kolkata woman strangled, beheaded and chopped into pieces for refusing brother-in-law's advances | Arvind Kejriwal, CM Atishi to contest Delhi polls from current constituencies | Atul Subhash suicide case: Wife Nikita, her mother and brother arrested

TCS reports its financial results for June 2016 quarter

| | Jul 15, 2016, at 03:55 am
#TCS # TCS #June 2016 #Quarter earnings
Mumbai, Jul 14 (IBNS): Tata Consultancy Services, the leading IT services, consulting and business solutions firm, on Thursday, reported its consolidated financial results according to IFRS in dollar terms for the quarter ended June 30, 2016.
During Q1, TCS posted the incremental revenues of $155 million – the highest in last seven quarters upto Q1 - driven by strong growth across core markets in North America, UK and Europe. India was the highlight among growth markets, the company reported. 
 
The company reported that revenue was up 3.7 % Q-o-Q  and 8.1% Y-o-Y to $ 4,362 million in the reported quarter. 
 
The company's operating income of Rs 7,347 crore was up 8.9% Y-o-Y but dropped 0.9% Q-o-Q.
 
Adoption of Cloud, Big Data & Analytics is driving demand in Manufacturing, Energy & Utilities and Communications while front-office transformations are helping growth in Telecom and Media sectors, according to the company. Consumer businesses such as Retail, TTH and Life Sciences are also increasingly using analytics to create rich experiences for each customer and reimagine each unique customer’s journey
 
Commenting on the Q1 performance, CEO and MD, N Chandrasekaran said: “Strong execution and accelerating customer adoption of Cloud, Big Data & Analytics has driven broad-based growth across key markets and industries. Our investments in platforms are gaining significant traction as customers look to boost business agility and enhance their time-to-market advantage to gain a competitive edge.”
 
Mr Chandrasekaran added: “Our rising employee retention rates for three consecutive quarters reflects our focus on engagement and investments we have made to build strong digital talent base. This is paying off with over 165,000 TCSers now trained with significant expertise in new Digital technologies that are rooted in specific domains.”
 
Rajesh Gopinathan, Chief Financial Officer, said:  “This has been a quarter of good financial performance balancing revenue growth, profitability and cash generation. Our disciplined approach to operations have helped us counter strong headwinds in the form of annual salary hikes and promotions as well as global currency and market volatility through the quarter. We continue to invest in people, platforms and products as we look to strengthen our competitive position across key markets.”

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.
Related Images
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador
Veedol signs former Indian skipper Sourav Ganguly as brand ambassador Jun 29, 2024, at 06:38 am
In Images: Glimpses from Bengali film Fatafati's premiere
In Images: Glimpses from Bengali film Fatafati's premiere May 13, 2023, at 08:39 pm
Gautam Adani meets Bangladesh PM Sheikh Hasina
Gautam Adani meets Bangladesh PM Sheikh Hasina Sep 06, 2022, at 06:46 am