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Tata Consultancy Services Set to Report Q1 Results

by Myfxtools
July 11, 2023
in News
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Tata Consultancy Services (TCS) is scheduled to release its first-quarter results on Wednesday. Here are the key details:

Net Profit Forecast

According to a poll of analysts by FactSet, TCS is expected to report a 16% increase in net profit to INR 109.63 billion ($1.33 billion) for the quarter ended June 30. This compares to INR 94.78 billion in the same period last year.

Revenue Forecast

The FactSet poll also projects a 13% year-on-year increase in first-quarter revenue to INR 595.60 billion.

What to Watch

Dividend

In addition to reviewing its first-quarter results, TCS’s board is expected to consider an interim dividend on Wednesday. Last July, the company announced an interim dividend of INR 8 per share. Investors are eagerly awaiting any updates on dividends.

Banking Sector

As the largest client segment for TCS, the banking, financial services, and insurance sector’s performance is crucial. Fourth-quarter profit from this industry grew by 12% compared to the previous year. Investors are closely monitoring the pace of profit growth in this segment, considering some customers may be postponing IT initiatives due to global economic uncertainty.

Headcount

TCS increased its workforce by a net of 22,600 employees, reaching a total of 614,795 in the fiscal year ended March. Investors are focusing on both headcount and productivity growth.

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Tags: Banking SectorDividendHeadcountNet ProfitQ1 ResultsRevenue ForecastTata Consultancy ServicesTCS
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