TCS posts 9.5% net profit in Q1

India’s largest software exporter, Tata Consultancy Services ( TCS), on Thursday beat analyst’s estimates by reporting a 9.44 per cent jump in its net profit for the quarter ended June 2016. The company posted a net profit after tax ( PAT) of ` 6,318 crore for the April- June period as compared to ` 5,773 crore reported during the same period last year, but marginally lower than ` 6,347 reported during the March quarter. The company’s revenue increased to ` 29,305 crore, up 14.16 per cent from June 2015. “Strong execution and accelerating customer adoption of cloud, big data and analytics have driven broad based growth across key markets and industries. Our investments in platforms are gaining significant traction as customers look to boost business agility and enhance their time- tomarket advantage to gain a competitive edge,” said N Chandrasekaran, CEO and MD, TCS.

In the three month ended June 2016, TCS posted the incremental revenues of $ 155 million, the highest in last seven quarters upto Q1 driven by strong growth across markets in North America, UK and Europe. Adoption of cloud, big data & analytics is driving demand in manufacturing, energy & utilities and communications while front office transformations are helping growth in telecom and media sectors. Consumer business like retail, travel, transportation & hospitality ( TTH) and life insurances are also increasingly using analytics to create rich experiences for each customer, the company said.