- Q1 $ Revenue grows +8.6% YoY; Constant Currency: +10.6% YoY
- Digital Revenue at 32.2%, Growth of 42.1% YoY
- UK (+16% YoY) and Europe (+15% YoY) Continue to Shine
- Net Margin at 21.3%; EPS Growth: 13% YoY
MUMBAI, July 9, 2019: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading global IT services, consulting and business solutions organization, reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending June 30, 2019.
Financial Highlights for Quarter Ended June 30, 2019
- Revenue at $5,485 Mn, +8.6% YoY
- Constant Currency revenue growth: +10.6% YoY
- Net Income at $1,168 Mn, +8% YoY
- Operating Margin at 24.2%; Net Margin at 21.3%
- Earnings Per Share at $0.31, +10.2% YoY
- Net Cash from Operations at 103.9% of Net Income
- Dividend per share: ₹ 5.00
Record date 17/07/2019; Payment date 23/07/2019
Business Highlights for Quarter Ended June 30, 2019
- Digital revenue: 32.2% of total, +42.1% YoY
- UK, Europe and India lead growth: +16% YoY, +15% YoY and +15.9% YoY respectively
- Continued investments in organic talent development:
- Net addition of 12,356 employees: highest in 5 years
- 315K+ employees trained in digital technologies
- 361K+ employees in Agile methods
- Industry-leading talent retention: IT Services attrition rate at 11.5% LTM
Commenting on the Q1 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said:“We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter.”
He added:“We are benefiting significantly from enterprises investing in Customer Experience to differentiate themselves in a Business 4.0™ world. Our lean forward strategy is working well and our customers are benefiting from the TCS innovation ecosystem. Customers appreciate our end-to-end capabilities, and our holistic approach to transforming customer journeys that enable rapid product innovation and speed to value.”
N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said:“We continue to execute well and delivered some significant transformation programs to our customers during the quarter. Our platforms for the financial industry are doing well. I’m particularly pleased that our TCS BaNCS Global Securities Processing platform is the choice of two large global financial institutions during the quarter.”
He added:“Our diversified industry presence, comprehensive digital offerings, and agile way of working, coupled with our Business 4.0 framework, enable us to stay relevant to our customers. We are confident of the future as we embrace deeply the Machine First™ philosophy in delivering experiential and modern solutions to our clients.”
V Ramakrishnan, Chief Financial Officer, said: “We continue to invest in deepening our capabilities to help our customers in their transformation journeys. Additionally, our margins this quarter fully reflect the annual increments that we effected across the board in April. Sustained rigor in operations helped deliver strong cash conversion and EPS expansion.”
