TCS Q1 results in FY2022-23 fell short of the estimates. It’s not like the demand was less but the operating margin was a bit less.
Highlights
- TCS Q1 revenue is at $6,780 million which is a 15.5% increase YoY.
- The revenue estimate was $6,799 million for Q1.
- Q1 results have made estimates for FY23 and FY24 to be cut short by a few %.
- TCS showed a growth of 4.28% in QoQ.
- The net cash from the operation is Rs 10,810 crore.
Tata Consultancy Services (TCS) is the largest IT company in India in terms of market capitalisation. TCS declared their Q1 FY23 on 8th July 2022.
TCS saw a little dip in revenue in comparison to what was estimated. It was estimated that TCS will make around $6.799 million but they made $6,780.
This fall was due to the increase in operating margins which saw a little increase from 21% to 23%.
The demand was steady throughout the year and TCS is showing 15.5 % year-on-year growth. TCS is also showing a 4.28% QoQ growth.
TCS also showed an impressive 19.7% attrition rate (Attrition rate is the rate at which employees leave the company. It is always shown in %. Its formula is No. of people left divided by the average no. of employees over a period of time.) which is very good for the company this big.
Goods points from TCS Q1 FY 23 results
- Revenue increasing at a 15.5 YoY. This Q1 revenue was Rs 52,758 crore.
- A 5.40% increase in profit after tax in Q1 FY23 from FY22.
- The good attrition rate at 19.7% for a company this size.
- A 4.28% QoQ steady growth was seen.
- Earning per share for the quarter was Rs 25.90
- They employed around 14000 new people. 35.5% were reported as women.
Negative points from TCS Q1FY23 results
- The operating margin increased 2.4% in the quarter from 20.7% to 23.1%.
- TCS share closed at Rs 3,266.00 after results, which is down 0.66% at the end of the trading session.
This was the result of the TCS Q1 FY23. TCS has been growing at a steady pace creating a lot of job opportunities in India. TCS will try to improve the already robust system to cope with Macro-level uncertainties.https://tdznkwjt9mxt6p1p8657.cleaver.live/tcs-becomes-1st-largest-company-in-the-market/
Read More: – TCS Q1 results fell short of analyst estimates. Here’s what they said
