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TCS Beats Estimates With Rs 6,317 Crore Profit in the First Quarter
Tata Consultancy Services surpassed analysts expectations posting a profit of Rs 6317 crore in the first quarter of the financial year 2017.
14 Jul 2016, 07:39 PM IST 
N Chandrasekaran, chief executive officer and managing director of Tata Consultancy Services Ltd. (Photographer: Dhiraj Singh/Bloomberg)
Tata Consultancy Services Ltd. reported a net profit of Rs 6,317 crore in the first quarter of the financial year 2016-17, surpassing the Bloomberg consensus estimate of Rs 6,059 crores.
Key Highlights
- Net profit declined 0.4 percent quarter-on-quarter to Rs 6,317 crore.
- Revenue rose 3 percent to Rs 29,305 crore.
- EBIT margin fell to 25.1 percent from 25.9 percent in the previous quarter. Volume growth: 3.4 percent.
- Dollar revenue growth: 3.7 percent.
- Attrition fell to 13.6 percent on the last 12 months basis.
- TCS added six clients in the $20 million plus band, and four clients in the $50 million plus band.
CEO Speak
Growing adoption of cloud and data analytics drove growth this quarter, N Chandrasekaran, managing director and chief executive officer of TCS, said in the company’s press release.
Strong execution and accelerating customer adoption of cloud, big data and 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.N Chandrasekaran, MD & CEO, TCS
The company announced an interim dividend of Rs 6.5 per equity share, which will be paid to shareholders on August 2.