Positive business growth across all verticals has helped Tata Consultancy Services record a net profit of Rs.1824 crores, up by 33.9% for the quarter ended December 31, 2009.
TCS revenues have gone up by Rs.7649 crores, an increase of 5.1%. The company also declared a quarterly dividend of Rs.2 per share. Announcing the Q3 results in Mumbai, Mr. N Chandrasekaran, CEO & MD, TCS said, “TCS yet again posts high growth and delivers on margin improvements for the third successive quarter in this difficult year. Our investments ahead-of-time in emerging markets, multiple industries and client relationships is reflected in our exemplary performance”.
Superior market presence helped TCS leverage the global economic recovery, and post sequential growth across all operating regions. While US continue to lead demand recovery, UK & European firms are increasingly beginning to invest for the upturn. APAC and India are seeing strong demand driven by growth in sectors like Energy, Utilities, and BFSI.
The growth momentum is also reflected across the portfolio of clients with 32 new client additions and growth in the number of active clients. Some of the major deals are with a UK government entity (£150 million); a 5 year deal with a manufacturing major ($100 million) and with two Indian states as the implementation partner for their Accelerated Power Development and Reform Program (Rs.450 crores).
During Q3, there was a gross addition of 12,854 employees (net addition of 7,692). The utilisation rate improved to 81.1% (excluding trainees) and 77.2% (including trainees). TCS has over 140,000 professionals in 42 countries. TCS has a development centre in Infopark Kochi.
Kerala IT News