Reportedly the country's largest software services firm Tata Consultancy services (TCS) on thursday reported a 13.8 per cent decline in consolidated net profit at Rs 7,008 crore in the three months ended June.It had a consolidated net profit of Rs 8,131 crore in the year-ago period, according to a regulatory filing. Revenue of the company rose marginally in the first quarter of the current fiscal to Rs 38,322 crore. In the year ago period, the same stood at Rs 38,172 crore.
Globally, businesses have been impacted by the Covid-19 pandemic. While indian IT firms had seen some impact in march, this is the first full quarter factoring in the impact of disruption and lockdowns in various parts of the world, including India. tcs CEO and MD Rajesh Gopinathan said "The revenue impact of the pandemic played out broadly along the lines we had anticipated at the start of the quarter. It affected all verticals, with the exception of Life Sciences and Healthcare, with varying levels of impact”.
He said "The other big investment themes are around driving operational resilience, adaptability and optimization. We signed several large core transformation programs encompassing operations, applications, and cloud and cyber security”. At the beginning of the first quarter, tcs had said it expects recovery from the third quarter of FY21.
