TCS Q1FY24 Net profit soared by 17% while revenue surges 13%

Tata Consultancy Services Ltd on Wednesday reported a bigger-than-expected rise in fourth-quarter profit as India’s top IT exporter saw firm demand for digital services despite a challenging macroeconomic backdrop. Net profit up by 17% at INR 11,120 crores while revenue surges 13% to INR 59,381 crores. TCS has announced a final dividend of INR 9 per share.

Commenting on the result, Mr K Krithivasan, Chief Executive Officer and Managing Director of TCS said: “ It is very satisfying to start the new fiscal year with a string of marquee deal wins. We remain confident in the longer-term demand for our services, driven by the emergence of newer technologies. We are investing early in building capabilities at scale on these new technologies, and in research and innovation, so we can maximize our participation in these opportunities”.