TCS quarterly consolidated net profit rises 49 percent

Mumbai : Tata Consultancy Services (TCS) Friday reported a 49 percent rise in consolidated net profit at Rs.3,434.37 crore for the quarter ended Sep 30 against Rs.2,301 crore crore during the like period of the previous financial year.

The total income stood at Rs.15,949 crore during the quarter under review against Rs.11,756 crore during the year-ago period, the company said in a regulatory filing.

“We have delivered a strong performance with well-rounded growth across industries and geographies. Our execution excellence is winning recognition and our service offerings remain relevant for customers,” N. Chandrasekaran, chief executive officer and managing director said in a statement.

“As the global operating environment continues to evolve, there is little doubt that technology is playing a more pivotal role to shape the future of every industry than ever before. Our investments and capabilities make TCS extremely relevant to participate in imagining and co-creating this future with our customers,” he added.

TCS had a gross addition of 18,654 employees during the quarter.

The company said that during the quarter under review, the growth was very broad-based and seen across all segments led by manufacturing, retail and telecom. There was balanced growth across all service lines with new services like infrastructure growing in double digits.

S. Mahalingam, chief financial officer (CFO) and executive director, said: “In the current operating context, it is important for us to remain efficient, keep a healthy grip on expenses, conserve cash and at the same time invest for the future.”

“In this quarter, TCS has posted a credible margin performance at the operating level and we have also expanded our net margins by managing the ongoing currency volatility.”

The company also announced new CFO Rajesh Gopinathan who would take over from Mahalingam after his retirement in February 2013.