TCS Q1 FY2023 net profit up by 5.2% to Rs 9,478cr

TCS Q1 FY2023 results : Tata Consultancy Services (TCS) has reported a net profit of INR 9,478 crores for the first quarter of the fiscal year 2022-2023 (Q1 FY2023) that ended 30 June 2022, which is an increase of 5.2% year-over-year (YoY), compared to INR 9,008 crores in the same quarter of the previous fiscal year.

In the fourth quarter of FY2022, the Indian IT services company made a net profit of INR 9,926 crores.

The earnings per share in Q1 FY2023 for Tata Consultancy Services were INR 25.9, an increase of 6.3%, compared to INR 24.35 in the same quarter of the previous fiscal year.

The Indian IT services company had revenue of INR 52,758 crores for the reported quarter, an increase of 16.2% compared to INR 45,411 crores in Q1 FY2022.

TCS Q1 FY2023 net profit up by 5.2% to Rs 9,478cr. Photo courtesy of Rameshng/Wikipedia.org.

In the previous quarter, that is Q4 FY2022, Tata Consultancy Services earned revenue of INR 50,591 crores.

Rajesh Gopinathan — CEO and Managing Director of Tata Consultancy Services, commenting on TCS Q1 FY2023 results, said: “We are starting the new fiscal year on a strong note, with all-round growth and strong deal wins across all our segments. Pipeline velocity and deal closures continue to be strong, but we remain vigilant given the macro-level uncertainties.

“Our new organization structure has settled in nicely, getting us closer to our clients and making us nimbler in a dynamic environment. Looking ahead, we remain confident in the resilience of technology spending and the secular tailwinds driving our growth.”