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India – Tata Consultancy Services first quarter revenue up 10.6% in constant currency

10 July 2019

India-based Tata Consultancy Services reported its consolidated financial results yesterday for the first quarter ended 30 June 2019 with revenue up 10.6% in constant currency to USD 5.4 billion.

($ millions) Q1 2019 Q1 2018 Change Constant Currency
Revenue 5,485 5,051 8.6% 10.6%
Gross Profit 2,220 2,090 6.2% N/A
Operating Income 1,325 1,264 4.8% N/A
Net Income 1,154 1,070 7.9% N/A

Strong digital demand led first quarter revenue growth for Tata Consultancy Services with revenue from digital rising by 42.1%, year-on-year.

Tata said revenue growth was broad-based across business lines.

Revenue by Business Segment

($ millions) Q1 2019 Q1 2018 Change

Banking,

Financial

Services and

Insurance

2,152 1,985 8.4%
Manufacturing 581 552 5.2%
Retail and Consumer Business 923 871 5.9%
Communication, Media and Technology 896 845 6.0%
Others 933 798 16.9%

Revenue by Geography

($ millions) Q1 2019 Q1 2018 Change
Americas 2,876 2,674 7.5%
Europe 1,648 1,488 10.7%
India 329 291 13.0%
Others 632 598 5.6%

In trading yesterday Tata Consultancy Services shares were down 1.9% on the day to INR 2,106 (USD 30.72). Based on its current share price the company has a market value of INR 7.90 trillion (USD 115.2 billion).

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