Quarterly Results are here. TCS first to declare its Results. The exact impact of the Nationwide Lockdown on the Indian economy is now coming into the picture as all companies start to declare earning results for the Q1 (April- June) 2021. Travel, Automotive, and Industrial sector are among the top losers as they had to stop their entire business for two months at least. IT and telecom sectors were not so impacted as they were able to shift to work from home efficiently. These are all speculations, and the exact impact will be out once we get to analyze the balance sheets. Also Read: Near Bankruptcy in March, Will Yes Bank Become a Multibagger? TCS is the first among the Nifty 50 to declare its earnings. TCS announced its Q1 result on Jul 9. Here's a key takeaway from TCS results. Tata Communication Services, India's biggest IT company, on Thursday, reported 13.81 percent year-on-year (YoY) fall in profit at Rs 7,008 crore for the first quarter ended Jun 30. Analysts in an ET NOW poll had projected the figure at Rs 7,680 crore. The consolidated revenue of the company inched higher by 0.39 percent every year to Rs 38,322 crore. But the deal wins remained robust at $6.9 billion for the June quarter 2020, against $8.9 billion in March quarter last year, and also against the average of the previous four quarters at $6.8 billion. On the operating front, earnings before interest and tax (EBIT) declined 9.7 percent quarter-on-quarter to Rs 9,048 crore, and margin fell 148 bps to 23.61 percent in the quarter ended June 2020, which both were below CNBC-TV18 poll estimates of Rs 9,442 crore and 24.34 percent respectively. Highlights of the Quarter Ended June 30, 2020 Revenue at $5.059 Bn, -7.8% YoYConstant Currency revenue growth: -6.3% YoYNet Income at $925 Mn, -20.8% YoYOperating Margin at 23.6%; Net Margin at 18.3%Strong Cash Conversion: Operating Cash Flow at 132.6% of Net IncomeConsolidated headcount: 443,676 | Women in the workforce: 36.2%353K+ employees trained in new technologiesIndustry-leading talent retention: IT Services attrition rate at 11.1% LTMDividend per share: ` 5.00 (Record date 17\/07\/2020; Payment date 31\/07\/2020) Consolidated Statement (In USD) Three-month period ended Jun 30, 2019 Three-month period ended Jun 30, 2020 Revenue5,4855,059Cost of revenue3,2653,065Gross margin2,2201,994SG & A expenses895800Operating income1,3251,194Other income (expense), net20360Income before income taxes1,5281,254Income taxes357324Income after income taxes1,171930Minority interest35Net income1,168925Earnings per share in $0.310.25 On the year-on-year basis, EBIT was down 1.8 percent, but margin expanded 231 bps for the quarter. Banking, financial services and insurance (BFSI) was the only segment registered sequential growth, rising half a percent QoQ to Rs 15,282 crore in June quarter 2020, but others reported a decline. Also Read: Exclusive: Defense Sector Stocks Zoomed during the Indo-China Standoff! Revenue from manufacturing segment declined 7.9 percent sequentially to Rs 3,884 crore; and retail and consumer business down 11.5 percent to Rs 5,912 crore, while communication, media, and technology segment reported a 3.8 percent QoQ decline at Rs 6,495 crore and others dropped 4.8 percent to Rs 6,749 crore in June quarter. The company has declared an interim dividend of Rs 5 per equity share at the end of June quarter. For more info on the result: Wipro, another IT giant, will declare its result on Jul 14, whereas HCL tech is scheduled to Jul 17.