TCS net profit up 16.83 percent at Rs 11,074 crore in June quarter

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The net profit of the Tata group company stood at Rs 9,478 crore in the corresponding quarter a year ago. Whereas in the previous quarter January-March, the company earned a net profit of Rs 11,392 crore.

Mumbai The net profit of the country’s largest information technology company Tata Consultancy Services (TCS) increased by 16.83 percent to Rs 11,074 crore in the June quarter. The net profit of the Tata group company stood at Rs 9,478 crore in the corresponding quarter a year ago. Whereas in the previous quarter January-March, the company had earned a net profit of Rs 11,392 crore. TCS’s operating income rose 12.55 per cent year-on-year to Rs 59,381 crore in the April-June quarter of the current financial year.

This is marginally higher than Rs 59,162 crore in the previous March quarter. The company’s total expenditure increased to Rs 45,789 crore in the quarter under review from Rs 40,771 crore in the April-June quarter of 2022-23 a year ago. While it was Rs 44,946 crore in the March quarter. TCS is the first major company to declare its June quarter financial results. The $250 billion Indian IT sector is likely to see volatility in the near future, given the challenges facing major markets globally. Shares of the company closed 0.36 per cent lower at Rs 3,260.20 on the BSE on Wednesday.

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