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Tata Consultancy Services revenue up 9%

July 10, 2019

IT solutions provider Tata Consultancy Services reported revenue rose 8.6% in its fiscal first quarter ended June 30. The increase was 10.6% in constant currency.

(US$ millions) Q1 2019 Q1 2018 % change
Revenue $5,485 $5,051 8.6%
Gross margin $2,220 $2,090 6.2%
Gross margin percentage 40.5% 41.4%  
Net income $1,168 $1,082 7.9%

Geographies with the fastest growth included the UK, up 16% year over year; Europe, up 15%; and India, up 15.9%. In North America, revenue was up 7.7%.

Among industries served, “life sciences and healthcare” posted the quickest growth with revenue up 18.1% in the quarter.

Tata noted that it added 12,356 employees in the quarter, the highest in five years.

Share price and market cap

Shares in Tata Consultancy Services closed down 2.35% on Tuesday in Bombay to 2,120 Indian rupees; the company had a market cap of 8.01 trillion rupees (US$116.7 billion), according to FT.com.

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