TCS reports 10.7% rise in Q1 consolidated net profit

Mumbai, July 9 (IANS) Software major Tata Consultancy Services (TCS) on Tuesday reported a 10.74 per cent rise in its consolidated net profit for the April-June quarter, on a year-on-year (YoY) basis.Its consolidated net profit in the first quarter of financial year 2019-2020 increased to Rs 8,153 crore, against Rs 7,362 crore reported for the corresponding period of last year, the company said in a regulatory filing.TCS reported a 12.29 per cent increase in its consolidated total income for the period under review at Rs 39,847 crore, from Rs 35,486 crore in Q1, 2018-19.The board of directors of the company declared an interim dividend of Rs 5 per equity share of Re 1 each of the company, the filing said.Commenting on the performance, Rajesh Gopinathan, CEO and MD, TCS said: "We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter."
--IANS rrb-rv/vd