TCS net dips sequentially, annually in first quarter

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Mumbai, July 13 (IANS) Tata Consultancy Services (TCS) posted net profit of Rs 5,945 crore for the first quarter (Q1/April-June) of this fiscal (2017-18), registering a decline of 5.9 per cent sequentially from Rs 6,608 crore in the previous quarter (January -March) of the last fiscal (2016-17), and 10 per cent from Rs 6,317 crore same quarter a year ago, said the IT bellwether on Thursday.

In a regulatory filing on the BSE after trading on the bourses, the software major said revenue for the quarter under review (Q1), however, remained flat sequentially (0.2 per cent) at Rs 29,584 crore as against Rs 29,642 crore in the last quarter, but up one per cent year-on-year (YoY) from Rs 29,305 crore in like period year ago.

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