Conference Call with Tata Consultancy Services Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting and Software company Tata Consultancy Services announced Q1FY24 results: Revenue at Rs 59,381 crore, +12.6% YoY Constant Currency revenue growth: +7% YoY Operating Margin at 23.2%; an expansion of 0.1% YoY Net Income at Rs 11,074 crore, +16.8% YoY and Net Margin at 18.6% Net Cash from Operations at Rs 11,353 crore ie 102.5% of Net Income Net headcount addition of 523 and Workforce strength: 6,15,318 Diverse and inclusive workplace: Women in the workforce: 35.8% and 154 nationalities Building a G&T; workforce: 12.7 million learning hours clocked and 1.3 million competencies acquired LTM IT Services attrition rate at 17.8% Dividend per share: Rs 9.00 with a record date of 20/07/2023 and Payment date due on 07/08/2023 K Krithivasan, Chief Executive Officer and Managing Director, said, “It is very satisfying to start the new fiscal year with a string of marquee deal wins. We remain confident in the longer-term demand for our services, driven by the emergence of newer technologies. We are investing early in building capabilities at scale on these new technologies, and in research and innovation, so we can maximize our participation in these opportunities.” N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said, “Our products and platforms achieved major milestones during the quarter with several transformational engagements going live. In the UK Life and Pensions administration space, we signed three new deals on our digital insurance platform, making TCS the undisputed leader in this market on any metric. We are proactively building differentiating capabilities in generative AI and actively working on such projects with our clients, delivering impact on technology, operations and client experience dimensions.” Result PDF