News APP

NewsApp (Free)

Read news as it happens
Download NewsApp

Available on  gplay

This article was first published 8 years ago  » Business » TCS net profit jumps 16% to Rs 6,085 cr

TCS net profit jumps 16% to Rs 6,085 cr

Source: PTI
Last updated on: October 13, 2015 18:13 IST
Get Rediff News in your Inbox:

Country's largest software services firm Tata Consultancy Services (TCS) has reported a 16 per cent surge in net profit to Rs 6,084.66 crore or Rs 60.84 billion for the quarter ended September 30.

The Mumbai-based firm had reported a profit of Rs 5,244.28 crore or Rs 52.44 billion in the corresponding period last fiscal, it said in a regulatory filing.

The company's total income from operations for the quarter rose 14.06 per cent to Rs 27,165.48 crore or Rs 271.65 billion as against Rs 23,816.48 crore or Rs 238.16 billion last year.

The figures are in Indian GAAP. However, according to the company statement, as per IFRS, the net profit for Q2 stood at Rs 6,055.20 crore or Rs 60.55 billion whereas revenues was Rs 27,165.50 crore or Rs 271.65 billion.

TCS CEO and MD N Chandrasekaran said: "We have delivered accelerated growth in constant currency terms for Q2.

Driven by great execution on the ground, our broad-based performance has been led by strong sequential growth in BFS, retail and life sciences verticals with the UK and North America leading the markets."

The company said core markets like the UK, North America and Europe grew smartly along with emerging markets like Latin America, India and MEA.

TCS also announced a dividend of Rs 5.50 per share.

Its operating margin for the quarter stood at 27.1 per cent. The company said there was a total gross addition of 25,186 people (net addition of 10,685 employees) taking the total employee strength of 3,35,620 on consolidated basis. The utilisation rate (excluding trainees) was at 86 per cent while the attrition rate stood at 16.2 per cent.

"On a quarterly basis, our retention levels have improved this quarter with a net addition of over 10,000 employees in Q2. Our hiring continues to be strong with all-time high of over 25,000 employees joining us this quarter," said Ajoy Mukherjee Executive VP and Global Head Human Resources.

Get Rediff News in your Inbox:
Source: PTI© Copyright 2024 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means, is expressly prohibited without the prior written consent.

Moneywiz Live!