TCS Q1 results: Net profit up 8.7%, margins rise despite salary hike

India’s largest IT services company Tata Consultancy Services (TCS) marginally beat Bloomberg estimates for its first-quarter (Q1) of 2024-25 performance, but macroeconomic uncertainties continued to weigh on the management’s demand outlook.

For Q1, TCS net profit grew 8.7 per cent year-on-year (Y-o-Y) to Rs 12,040 crore, but fell 3.1 per cent sequentially. Revenue increased 5.4 per cent Y-o-Y and 2.2 per cent sequentially to Rs 62,613 crore. Bloomberg had estimated revenue to be at Rs 62,128 crore and profit at Rs 11,959 crore.