TCS shares rise 2.5% post Q1 earnings, dividend announcement
In Q1FY25, the revenue of TCS grew to ₹62,613 crore, up 5.4% on a year-on-year basis from ₹59,381 crore in Q1FY24. Sequentially, the company’s revenue grew 2.2% from ₹61,237 crore in the March quarter of FY24.
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Tata Consultancy Services saw its shares trading in the positive zone on Friday following the announcement of a moderate year-on-year increase in its consolidated net profit for the quarter ending June 30, 2024. The company's earnings grew in different sectors and geographic markets around the world.
TCS stocks saw a 1.4% increase in their opening price on the NSE, reaching ₹3,980 per share. The stock continued to increase in speed, reaching a 2.55% rise at ₹4,023.9.
The Tata Group company announced a 5% year-over-year growth in revenue from operations in its Q1FY25 quarterly results published on July 11 after market hours.
In a stock exchange filing, the company reported that its main markets are showing growth in sequence again, with India accounting for 61.8% of revenue growth in emerging markets. In Q1FY24, the Asia Pacific markets experienced a year-on-year growth of 7.6%.
Revenue growth from Latin American markets in the company's Americas business rose by 6.3% compared to the previous year. Nevertheless, there was a 1.1% year-over-year decrease in revenue from North American markets in the first quarter of fiscal year 2025.
TCS saw an increase in revenue in various sectors, with Manufacturing leading with 9.4% YoY growth, followed by Energy, Resources, and Utilities at 5.7%. Nevertheless, there was a decrease in revenue from Technology and Services, BFSI, consumer business, and communication and media sectors.
In Q1FY25, Tata Group company's net income increased by 8.7% to ₹12,040 crore. In Q1FY25, the company had an operating margin of 24.7% and a net margin of 19.2%.
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