Tech Exclusive: N. Ganapathy Subramaniam, COO & ED , TCS

Tata Consultancy Services (TCS), the largest IT firm in terms of sales, on Wednesday reported a 16.83 per cent year-on-year (YoY) rise in net profit at Rs 11,074 crore for the June quarter compared with Rs 9,478 crore in the same quarter last year. As compared to the previous quarter that ended on March 31, the net profit was down 2.7 per cent from Rs 11,392 crore. The profit growth figure came largely in-line with analyst estimates of 15-20 per cent. Revenue for the quarter came in at Rs 59,381 crore, up 12.55 YoY over Rs 52,758 crore in the same quarter last year. Revenue growth in constant currency terms grew 7 per cent YoY, TCS said. EBIT margin for the quarter came in at 23.1 per cent, up 10 basis points YoY. That said margin contracted 130 basis points sequentially due to salary hikes during the quarter. Deal wins for the quarter at $10.20 billion was also in-line with analysts' forecast of $10-11 billion. The IT firm said its board has declared an interim dividend of Rs 9 per share of face value Re 1 each. The interim dividend would be paid on Monday, August 7, to the equity shareholders of the company, whose names appear on the register of members of the company or in the records of the depositories as beneficial owners of the shares as on Thursday, July 20, which is the record date, fixed for the purpose, TCS said. The company's attrition in the quarter stood at 17.8 per cent. The company added 523 employees in the quarter. Its total workforce stands at 615,318.