Revenue at Tata Consultancy Services rose across geographies with the exception of North America in its fiscal first quarter ended 30 June 2024. The strongest growth was in TCS’ Indian operations. The number of employees also rose by 5,542 compared to the fourth quarter. Net income rose, and gross margin improved.

The Mumbai, India-based IT services giant reported revenue rose 4.4% in constant currency to $7.51 billion as measured in US dollars.

However, revenue from North America fell 1.1% year over year in constant currency. North America represents the company’s largest market and delivered 49.5% of TCS’ revenue in the quarter.

Revenue rose in the UK and Continental Europe, TCS’ second- and third-largest markets. UK revenue rose 6.0% year over year on a constant currency basis, while Continental Europe revenue edged up 0.9%. The UK and Continental Europe represent 16.9% and 14.4% of the company’s total revenue, respectively.

The fastest growth took place in India, where TCS’ revenue rose 61.8% year over year in constant currency. The Indian market represents 7.5% of the company’s total revenue.

Revenue by Industry

Looking at TCS’ revenue by industry, revenue rose in life sciences and healthcare, up 4.0%; manufacturing, up 9.4%; and energy, resources and utilities, up 5.7%. The fastest-growing industry was listed as “regional markets and others,” where revenue rose 37.7%.

The percentage of total revenue represented by the industries are:

• Life sciences and healthcare: 11.0%
• Manufacturing: 8.8%
• Energy, resources and utilities: 5.7%

TCS’s largest industry served — banking, financial services and insurance — saw revenue edge down 0.9% year over year in constant currency. It represents 30.9% of the company’s total revenue.

Employees

The number of employees rose in the first quarter to 606,998, an increase of 5,452 from the fourth quarter. However, the number of employees in Q1 was still down 8,320 from the first quarter of last year.

Tata Consultancy Services Q1 2025 earnings

Share Price

Shares in TCS closed up 0.37% in India today to INR 3,923.70 (USD 46.99). Shares were 7.78% below their 52-week high. The company has a market cap of INR 15.09 trillion (USD 180.53 billion).