TCS Q1 results: Profit up 8.7% at ₹12,040 crore, ₹10 dividend announced

Tata Consultancy Services, India’s top IT services company, reported a bigger-than-expected first-quarter revenue owing to execution of large deals bagged in previous quarters. The company’s consolidated revenue rose 5.4% to 626.13 billion rupees in the June quarter. Analysts expected revenue at 622.07 billion rupees, as per LSEG data.

Company’s margins took a hit due to the wage hike cycle during the quarter as EBIT margin narrowed to 24.7 per cent for Q1. The company’s board also approved an interim dividend of ₹10 per share for the quarter.