TCS Stocks Surge 2.5% on Strong Q1 Revenue Growth and Dividend AnnouncedTCS Stocks Surge 2.5% on Strong Q1 Revenue Growth and Dividend Announced

Tata Consultancy Services (TCS) shares rose 2.5% following their Q1 earnings and dividend announcement. The company reported a 5.4% year-on-year revenue increase, reaching ₹62,613 crore from ₹59,381 crore in Q1FY24, and a 2.2% sequential growth from the previous quarter.

On the profit front, TCS’s PAT grew by 8.7% year-on-year to ₹12,040 crore, despite a slight 3.1% decline from the previous quarter. This mixed financial performance was mirrored in their revenue segments, where some areas showed strong growth while others declined.

Regionally, TCS saw diverse results, with a strong 7.6% year-on-year growth in Asia Pacific markets and a notable 6.3% increase in Latin American revenues. However, revenues from North America dipped by 1.1% compared to the same quarter last year.

The company also highlighted its manpower dynamics, reporting a total workforce of 606,998 by the end of Q1FY25. This period saw an addition of 5,452 employees and an attrition rate of 12.1%. Additionally, TCS boasts a diverse employee base, including 35.5% women and individuals from 151 nationalities.

TCS declared an interim dividend of ₹10 per share, payable on August 5, with July 20 set as the record date for dividend eligibility. This move underscores the company’s continued commitment to delivering shareholder value amidst varying market conditions.