Conference Call with Tata Consultancy Services Management and Analysts on Q1FY23 Performance and Outlook. Listen to the full earnings transcript.
IT Consulting & Software firm Tata Consultancy Services announced Q1FY23 Result : Revenue at Rs 52,758 crore | Growth of 16.2% YoY, +15.5% in CC North America (+19.1% CC), Retail (+25.1% CC) lead among segments Order Book at $8.2 billion | Book to Bill at 1.2 Stellar client metrics: 9 new clients added to the 100Mn+ band YoY; 19 clients added to the $50Mn+ band Workforce crosses the 600K milestone: Headcount at 606,331 Revenue at Rs 52,758 crore, +16.2% YoY Constant Currency revenue growth: +15.5% YoY Operating Margin at 23.1%; contraction of 2.4% YoY Net Income at Rs 9,478 crore, +5.2% YoY | Net Margin at 18% Net Cash from Operations at Rs 10,810 crore ie 114.1% of Net Income Net headcount addition of 14,136 |Workforce strength: 606,331 Diverse and inclusive workplace: Women in the workforce: 35.5% | 153 Nationalities Building a G&T; workforce: 12 million learning hours clocked | 1.7 million competencies acquired LTM IT Services attrition rate at 19.7% Dividend per share: Rs 8.00 | Record date 16/07/2022 | Payment date 03/08/2022 Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “We are starting the new fiscal year on a strong note, with all-round growth and strong deal wins across all our segments. Pipeline velocity and deal closures continue to be strong, but we remain vigilant given the macro-level uncertainties. Our new organization structure has settled in nicely, getting us closer to our clients and making us nimbler in a dynamic environment. Looking ahead, we remain confident in the resilience of technology spending and the secular tailwinds driving our growth.” N Ganapathy Subramaniam, Chief Operating Officer and Executive Director, said: “We are pleased with our execution during the quarter wherein we successfully delivered several transformation programs. The investments we made on people, upskilling efforts and select lateral hiring et al helped manage the talent turnover with minimum impact on our operations. During the quarter, we have resumed in-person meetings, and hosted several clients at our facilities. We are bringing in more of our associates back to our development centres, and it is steadily increasing at all levels. On the sustainability front, we have signed our commitment to SBTi version 5 standards during the quarter and are making steady progress towards our net zero journey with tremendous alignment to this initiative across our associates.” Result PDF