TCS Q2 net profit up 29.17% at Rs 1,642-crore
Tata group company, Tata Consultancy Services (TCS), on Friday reported net profit of Rs 1,642-crore in the second quarter (July-September), up 29.17 percent over the corresponding period last year.
Mumbai: Tata group company, Tata Consultancy Services (TCS), on Friday reported net profit of Rs 1,642-crore in the second quarter (July-September), up 29.17 percent over the corresponding period last year.
The company posted a revenue of Rs 7,435-crore in the same period, up 6.93 percent compared to the year-ago period, the company said.
"TCS has delivered a sterling performance during the quarter. We are seeing an improvement in market conditions. With our clients` budgets still being tightly managed, we continue to deliver higher value to customers, deepening our relationships and focusing on superior operational management," its Managing Director & CEO, N Chandrasekaran, said.
The investments made by TCS in its market footprint and its full services offerings was holding it in good stead to capitalise on emerging growth opportunities, he added.
The company`s international business grew 5.3 percent sequentially in Rupee terms.
TCS`s strong market presence in the US helped the company capitalise on the emerging US recovery, a company statement said.
During the reporting quarter, the IT major added 30 new clients. Besides, it added 5,530 employees.
The company plans to add 8,000 new professionals in the October-December quarter, the statement said.
Chandrasekaran said that the BFSI segment led the growth revival with ten large deals closed across manufacturing, retail and energy life-sciences in India.
"Major deals were also sealed in the US and Europe," he said.
The TCS chief highlighted the fact that three large full-service deals were struck during the reporting quarter.