This came after the IT services major reported an 8.7 per cent year-on-year (Y-o-Y) increase in its net profits to ₹12,040 crore in the April-June quarter of financial year 2024-25 (Q1FY25). However, sequentially, the profit dipped by 3.1 per cent.
Revenues soared 5.4 per cent Y-o-Y and 2.2 per cent sequentially to ₹62,613 crore. The topline and the bottomline marginally defeated Bloomberg estimates which had estimated revenue to be at 62,128 crore and profit at 11,959 crore.
According to brokerages, the revenue growth was broad based, with almost every vertical reporting sequential growth. BFSI and retail recovered smartly while manufacturing, healthcare and energy continued their growth momentum.
Despite broad-based revenue growth, deal wins in the quarter remained modest dragged by spillover of few deals to next quarter, analysts said. TCS signed $8.3 billion total contract value (TCV) during the quarter, slipping 18.6 per cent Y-o-Y and 37 per cent sequentially. In Q4FY24, TCS had signed TCVs worth $13.2 billion.
TCS continues to see a strong pipeline even as clients continue to re-prioritise spends on cost-takeout deals, they said.
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