However, the quarter 1 result came out to be a big disappointment as the pandemic has undoubtedly taken a toll on its revenues, operating margins, and profits in numbers that rise way above expectations. a decline in growth in the above-mentioned quarter was witnessed in all geographies and business verticals except life sciences and healthcare.
Despite poor results, the company witnessed hard agreement wins. This indicated a huge deal pipeline. Tata Consultancy Services(TCS) reported profit before tax of rupees 9,504 crore in the quarter ending in June. This is 9.6 % less than the numbers in the previous quarter and 10.65% lower when compared to the same period last year. Net profit saw a steep fall of 13.81% year on year reporting at rupees 7,008 crore going down by 12.9% sequentially. The drop in the revenue was greater than the expectations of market analysts in constant currency terms even when the revenues rose in rupee terms.
TCS: Consolidated revenues in the first quarter rose by 0.39 % year on year basis at rupees 38,332 crore. At the same time, they fell 4.1 % if we look at the quarter on quarter basis. The revenue in dollars was dollar 5.09 billion with a drop of 7.8 % as against the same period last year.