TCS Q2 net profit up 29.17% at Rs 1,642-crore
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Last Updated: Friday, October 16, 2009, 20:20
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.

Bureau Report

First Published: Friday, October 16, 2009, 20:20

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