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Indian Express
16 minutes ago
- Indian Express
TCS Q1 result: IT giant's net profit rises 6%, board recommends Rs 11/ share dividend
Indian IT major Tata Consultancy Services (TCS) on Thursday reported a 6 per cent growth in its consolidated net profit at Rs 12,760 crore for the first quarter ended June 2025 as against Rs 12,040 crore in the year-ago period. The company's revenue rose to Rs 63,437 crore, higher by 1.3 per cent as against Rs 62,613 crore in the year-ago period. However, TCS' revenue declined 3.1 per cent year-on-year (YoY) in constant currency. The company's operating margin was at 24.5 per cent, an expansion of 30 bps on a quarter-on-quarter basis. TCS' board also recommended a dividend of Rs 11 per share. 'The continued global macro-economic and geo-political uncertainties caused a demand contraction. On the positive side, all the new services grew well. We saw robust deal closures during this quarter,' K Krithivasan, managing director and CEO, said. 'We remain closely connected to our customers to help them navigate the challenges impacting their business, through cost optimisation, vendor consolidation and AI-led business transformation,' he said. TCS' shares remained subdued at Rs 3,382.30, down 0.06 per cent, on the BSE on Thursday. The share has fallen 26 per cent from the 52-week high level of Rs 4,585. Aarthi Subramanian, Executive Director-President and COO, said 'Across industries, clients are increasingly shifting their focus from use case-based approach to ROI-led scaling of AI. We are investing across the AI ecosystem including infrastructure, data platform solutions, AI agents and business applications.' TCS' workforce stood at 613,069 as on June 30, 2025. 'Our associates invested 15 million hours and acquired 1.3 million competencies in emerging technologies, enabling them to lead the transformation journey for our customers,' it said. IT services' attrition was at 13.8 per cent for the last 12 months. 'We continued our investments in long term sustainable growth this quarter. We stayed agile and adapted to the dynamic environment, delivering steady margins. Our industry leading profitability alongside robust cash conversion, positions us well to make strategic investments for the future,' Samir Seksaria, chief financial officer, said. According to TCS, this quarter, the AI and Data unit delivered robust growth, with enterprises advancing from pilots to scaled GenAI deployments. 'Demand was led by AI-led transformation, SDLC/IT-Ops automation, and data-platform modernisation. Our investments in WisdomNext, TCS' flagship AI platform are expanding with the addition of agentic AI capabilities. Strategic partnerships expanded, and our AI workforce with higher order skills exceeded 114,000, strengthening our leadership position in enterprise AI solutions,' it said.
Time of India
21 minutes ago
- Time of India
Who is Priya Nair? HUL appoints new CEO & MD; Rohit Jawa exits after two years
FMCG major Hindustan Unilever Ltd (HUL) has appointed Priya Nair as its new Chief Executive Officer and Managing Director for a five-year term, effective August 1, 2025. Nair, currently President, Beauty & Wellbeing at Unilever, will succeed Rohit Jawa, who steps down on July 31 to pursue 'the next chapter' in his personal and professional journey, PTI reported. Nair will also join the HUL Board, pending necessary approvals, and will continue to be a member of the Unilever Leadership Executive (ULE), the company said in a statement on Thursday. 'Priya has had an outstanding career in HUL and Unilever. I am certain that with her deep understanding of the Indian market and excellent track record, Priya will take HUL to the next level of performance,' said HUL Chairman Nitin Paranjpe. Nair began her journey at HUL in 1995 and has since held various roles across sales and marketing in home care, beauty & wellbeing, and personal care. She served as Executive Director, Home Care, from 2014 to 2020, and Executive Director, Beauty & Personal Care, from 2020 to 2022. She later became Global Chief Marketing Officer, Beauty & Wellbeing, and since 2023, has led the vertical as its global president. Jawa took charge as HUL CEO-MD in 2023. Reflecting on his contribution, the company credited him with delivering volume-led competitive growth during a challenging market environment. 'On behalf of the Board of HUL, I would like to thank Rohit for leading the business through tough market conditions and strengthening its foundations for success. The company took decisive actions to sharpen the portfolio and further stepped up its market leadership over the last two years,' Paranjpe said. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Mint
23 minutes ago
- Mint
Who are the richest Indians in US? Sundar Pichai and Satya Nadella not in top 9
India has surged ahead as the top birthplace for America's wealthiest immigrants, with 12 Indian-origin billionaires featured in Forbes' 2025 ranking, the highest from any single country. This marks a significant jump from just seven in 2022, surpassing Israel and Taiwan (11 each). Together, these Indian immigrants represent a powerhouse of self-made success, contributing to the $1.3 trillion collective wealth of foreign-born US billionaires. Newcomers like Alphabet's Sundar Pichai and Microsoft's Satya Nadella joined the list recently, yet they rank surprisingly low compared to lesser-known tycoons. Topping the Indian-American billionaires is Jay Chaudhry, founder of cybersecurity giant Zscaler, with a net worth of $17.9 billion. Born in Panoh, a remote Himalayan village without electricity or running water during his childhood, Chaudhry first flew to the US in 1980 for graduate studies. Before Zscaler's 2018 IPO, he built and sold four tech companies. Now based in Nevada, he ranks #8 overall among all US immigrant billionaires, far ahead of Pichai and Nadella. Chaudhry's journey reflects the broader trend: 93% of immigrant billionaires are self-made, often thriving in tech or finance. Here are the wealthiest Indian-origin billionaires in the US, based on Forbes' latest data. Notably, tech icons Sundar Pichai ($1.1 billion) and Satya Nadella ($1.1 billion) rank 10th and 11th, missing the top 9 : Jay Chaudhry ($17.9 billion) – Cybersecurity (Zscaler) Vinod Khosla ($9.2 billion) – Sun Microsystems, venture capital Rakesh Gangwal ($6.6 billion) – Airlines (co-founder of IndiGo) Romesh T. Wadhwani ($5.0 billion) – Software - Symphony Technology Group Rajiv Jain ($4.8 billion) – Finance (Chairman of GQG Partners) Kavitark Ram Shriram ($3.0 billion) – Google, venture capital Raj Sardana ($2.0 billion) – Technology services (IT firm TCGI) David Paul ($1.5 billion) – Medical devices (Wellquest/NeuroSigma) Nikesh Arora ($1.4 billion) – Cybersecurity (Palo Alto Networks CEO) Pichai ($1.1 billion) and Nadella ($1.1 billion) rank 10th and 11th, respectively.
