TCS net up 48 percent sequentially in first quarter

Software major Tata Consultancy Services (TCS) on Thursday reported net profit of Rs.5,709 crore for first quarter (April-June) of this fiscal (2015-16).

The company registered a whopping 48 percent sequential growth from previous quarter (January-March) of last fiscal (2014-15) at Rs.3,858 crore and 12.9 percent year-on-year (YoY) from Rs.5,058 crore in the like period a year ago.

In a regulatory filing to the Bombay Stock Exchange after trading ended, the Indian IT bellwether said revenue grew 6 percent sequentially to Rs.25,668 crore from Rs.24,220 crore in the previous quarter and 16 percent YoY from Rs.22,111 crore.

Under the International Financial Reporting Standard (IFRS), net income for the quarter under review (Q1) is up 45 percent sequentially to $898 million from $621 million in previous quarter and 6.2 percent YoY from $845 million in same period year ago.

Similarly, revenue rose 3.5 percent sequentially to $4.04 billion from last quarter at $3.9 billion and 9.3 percent YoY from $3.7 billion in same period year ago.