By Priyanka Deshpande
CNBC-TV18.com
Published July 12 2024
IT major Tata Consultancy Services (TCS) on Thursday July 11, reported its Q1 results. Take a look at the top 5 positives from the TCS management commentary.
In constant currency terms, TCS reported a sequential revenue growth of 2.2%, surpassing the CNBC-TV18 poll expectation of 1.5%.
EBIT margin narrowed by 130 basis points to 24.7% from 26% last quarter, slightly above the CNBC-TV18 estimate of 24.5%.
TCS added 5,452 employees in Q1, marking the first positive net hiring in three quarters and the highest in seven quarters.
Stressed sectors like BFSI and Hi-tech returned to growth after a couple of quarters of de-growth.
TCS management reiterated FY25 to be better than FY24.
The AI and Generative AI pipeline surged to $1.5 billion versus $900 million.