Tata Consultancy Services Ltd (TCS), India’s largest software services provider, beat analysts’ estimates with a sharp rise in fiscal consolidated first-quarter profit and revenue, on the back of robust volume growth and increase in business across sectors.
On Thursday, TCS said its net profit was up 45% at Rs.5,568 crore in the three months ended 30 June from a year earlier. Revenue rose 22.9% to Rs.22,111 crore from a year ago, following a 5.7% volume growth.
On the occasion of the 10th anniversary of TCS IPO, the board of directors announced a special dividend of Rs.40 per share.
The total employee strength of TCS at the end of the June quarter stood at 305,431. The attrition rate (LTM-last twelve months), too, was seasonally higher at 12%.
