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TCS net profit up 12% on global biz growth

According to TCS, constant currency revenue growth was 0.5 per cent on a Q-o-Q basis and the international business CC revenue growth at 1.1 per cent.

By: ENS Economic Bureau | Mumbai | Published: January 13, 2016 2:49:08 am

Tata Consultancy Services (TCS), India’s largest software services exporter, has reported a 12.2 per cent increase in the net profit at Rs 6,109.5 crore for the quarter ended December 2015 as against Rs 5,444.1 crore in the same period of the last year, aided by a smart growth in the global business.

The net profit showed a rise of 0.9 per cent on a quarter-on-quarter basis. Revenue rose by 11.7 per cent to Rs 27,364 crore for the quarter as against Rs 24,501 crore in last year. On a Q-o-Q basis, revenue was up 0.7 per cent.

Shares of TCS, the most valued listed company with a market capitalisation of Rs 455,211 crore fell by 1.65 per cent to Rs 2,324.05 on the BSE ahead of the results announcement on Tuesday. It hit the 52-week low of Rs 2,301.10 during the day.

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TCS MD and CEO N Chandrasekaran said: “all our industry segments have exhibited growth in a traditionally weak quarter additionally accentuated by the impact of the Chennai floods. Our international business has grown smartly in constant currency terms with North America and Europe leading the way among major markets and Latin America among growth markets.”

According to TCS, constant currency revenue growth was 0.5 per cent on a Q-o-Q basis and the international business CC revenue growth at 1.1 per cent.

“Digital will remain the core focus for enterprise IT in 2016 as our customers respond to competition in a global economy driven by real-time insights. With 13.7 per cent of our revenues coming from digital business and this segment growing at a higher sequential rate, TCS is playing an impactful role in partnership with customers,” he said.

Rajesh Gopinathan, chief financial officer, said: “in a challenging quarter with significant cross currency and other headwinds, we have operated with rigor and discipline to deliver credible margin performance and generated excellent cash flows.”

Growth in Q3 was holistic with all industry segments showing sequential growth with life sciences & healthcare, manufacturing and hi-tech leading the way. Europe and North America led growth in major markets while Latin America and Asia Pacific led the growth markets. Among service lines, Infrastructure Services and BPS were the leaders. There was a gross addition of 22,118 people taking overall strength to 344,691 employees on a consolidated basis.

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