TCS net up 23.5%, revenue up 15.8% in Q1
Mumbai, July 10: Global software major Tata Consultancy Services (TCS) on Tuesday reported Rs 7,340 crore consolidated net profit for the first quarter of fiscal 2018-19, registering 23.5 per cent annual and 6.3 per cent sequential growth.
In a regulatory filing on the BSE, the city-based IT firm said consolidated revenue for the quarter (Q1) under review grew 15.8 per cent annually and 6.8 per cent quarterly to Rs 34,261 crore.
Under the International Financial Reporting Standard, net income grew 17.2 per cent year-on-year to $1.1 billion and revenue 10 per cent to $5.1 billion for the first quarter.
"Revenue from North America market grew highest in the last 12 quarters or three years by 7 per cent annually and 3.7 per cent quarterly on recover from banking, financial services and insurance (BFSI) and retail," said TCS in a statement here.
Operating margin remained flat at 25 per cent as in the previous quarter (25.4 per cent).
"Digital business contributed 25 per cent to the overall revenue and grew a whopping 44.8 per cent YoY," it added.
The company added 2 new clients in $100 million billing rate and 13 clients in $5 million band sequentially.
"We have started the new fiscal year on a strong note, with the growth engine firing on all cylinders. We had good wins, a robust pipeline and accelerating digital demand," said TCS Chief Executive Rajesh Gopinathan in the statement.
Noting that customers across verticals and markets were embracing the company's Business 4.0 thought-leadership framework, he said contextual knowledge, full spectrum capabilities and investments in research and innovation were making TCS their preferred partner for growth and transformation initiatives.
TCS Chief Operating Officer N. Ganapathy Subramaniam said the year's first quarter was excellent due to growth across segments and client additions.
"We are seeing strong demand in cloud transformation, cyber-security, data privacy and automation. Our investments in Machine First Delivery Model and Location-independent Agile are giving customers business benefits and speed to market," he said.
TCS Chief Financial Officer V. Ramakrishnan said disciplined execution, accelerating growth and currency support helped the company mitigate the impact of wage increases during the quarter.
"A strong quarterly start gives us confidence in our ability to get our operating margin to our preferred range, while continuing to fund the digital investments," he said.
The company applied for 3,978 patents, including 62 during the quarter, and was granted 715.
Its headcount crossed the 4 lakh mark and touched 400,875 on consolidated basis. Women accounted for 35.6 per cent.
The IT services attrition rate fell 0.1 per cent to 10.9 per cent, while the total attrition rate, including business processing services fell to 11.7 per cent.
"We continue to invest in upgrading the skills of our employees while leveraging their contextual knowledge and domain experience," said Human Resources global head Ajoy Mukherjee.
The twin strategy has resulted in a dynamic workplace and a strong digital solutioning capability to deliver differentiated outcomes for its global customers.
The company's blue-scrip of Rupee 1 face value ended at Rs 1,877 per share at the end of Tuesday's trading on the BSE, losing Rs 10.65 from Monday's closing price of Rs 1,887.65 and opening at Rs 1,895.20.
The scrip also touched a high of Rs 1,900 and a low of Rs 1,872 during the intra-day trading session on the bourses.
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Arnab Goswami’s Homecoming? Anchor tears into Modi Government over aviation chaos
Says, govt not going to be happy with us saying this
New Delhi: In a striking turn that surprised even his regular viewers, Arnab Goswami spent the evening of December 4 taking direct aim at the central government over the ongoing crisis in the domestic aviation sector. The debate, aired on Republic, focused entirely on the severe disruption caused by IndiGo flight cancellations and the state of air travel in the country. The tone was sharp, emotional, and openly critical, raising the larger question of whether this marks a homecoming of sorts for the anchor long accused by critics of being soft on the government.
Goswami began the show by saying the central government had “completely let down” air passengers. He pointed to chaotic visuals from airports in Pune, Ahmedabad and Mumbai, describing passengers packed into crowded spaces, long queues, and travellers lying on the floor with little access to basic facilities. He said anyone travelling with children or elderly parents would understand the distress such situations cause.
According to him, the government often claims to have improved the aviation sector, but the day-to-day experience of passengers tells a different story. He argued that whatever help the government may have extended has benefited individuals and individual companies, not the sector as a whole.
Goswami highlighted data from the last three days, saying IndiGo had canceled 1,232 flights in November. He broke down the reasons for the cancellations: 755 linked to crew and FDTL constraints, 258 due to airspace and airport restrictions, 92 because of failures in air traffic control systems, 127 for other reasons.
He said passengers in India are often “taken for granted” and that only in this country can such large-scale cancellations take place without consequences.
Throughout the debate, Goswami repeatedly returned to the theme of duopoly. He said Air India and IndiGo together control 91.5 percent of the aviation market, leaving only a small share for others like Akasa and SpiceJet. This, he said, gives the two big players the power to decide prices and escape accountability.
“They can set the prices. They can torture passengers. They can be not answerable for air crashes.” He added.
Goswami also questioned why such a structure is allowed to exist if the government claims it opposes monopolies. He asked whether the government has made Air India accountable after the recent air crash, and said he did not believe so.
“We are told that the Modi government does not like monopolies. First of all, I don't agree with that. There are too many monopolies happening.” He said.
The anchor accused Air India of operating aircraft that were not airworthy and said no serious action followed. According to him, any other minister in charge of civil aviation would have been removed after such incidents, but nothing happened.
“He is not answerable. And why is the central government not bothered about it? Because he comes from the TDP, an alliance party. So let him do,” he said.
He added that Air India continues to seek government support, including compensation for losses after the Sindhur episode. Goswami questioned why public money should be used to support the airline, drawing a comparison with the earlier controversy involving Vijay Mallya seeking help from the Manmohan Singh government a move that was labelled as scam.
Goswami said passengers are suffering because of delayed flights, sudden cancellations, and lack of compensation. He criticised the DGCA, saying it was not enforcing safety and operational norms. He also questioned why the Prime Minister’s Office had not intervened.
He noted that Republic had carried multiple exposés on these issues and claimed that Air India chooses to give interviews and advertisements only to other channels.
He also called for Parliament to debate the aviation mess and examine whether monopolies or duopolies should be allowed in a nation of India’s size.
“I'm sure the government's not going to be happy with us saying this, but someone's got to speak up for the people of this country.” He added.
Known by his critics as the “Godi Media Chief”, Goswami’s direct attack on the Modi government over civil aviation raised eyebrows across media circles.
Whether this is a one-off outburst or a sign of a new editorial direction is something viewers will be watching closely.
#AviationCollapse | India’s aviation sector is in turmoil as IndiGo’s mass cancellations and Air India’s alleged safety lapses leave passengers stranded. The disruption raises serious questions about airline management, regulatory oversight, and who is ultimately responsible for… pic.twitter.com/Dqt6pcoW8w
— Republic (@republic) December 4, 2025
