This is a discussion on Tata Consultancy's Q1 profit within the Investment forums, part of the Financial Services category; Tata Consultancy Services (TCS), the country's biggest software firm, said Friday its April-June quarter profit rose 33 percent over the ...
Tata Consultancy Services (TCS), the country's biggest software firm, said Friday its April-June quarter profit rose 33 percent over the same period last year on increased outsourcing by overseas clients.
As per Indian accounting norms, the company's profit touched Rs.6.30 billion in the quarter ended June 30, as against Rs.4.74 billon in the year-ago period.
Total revenues for TCS, an arm of diversified conglomerate Tata Group, in the first quarter of the current fiscal was Rs.27.21 billion up from Rs.21.84 billion for the corresponding quarter last fiscal.
"There has been great traction for our IT, BPO (business process outsourcing) and engineering services across geographies and industry verticals," said S. Ramadorai, chief executive officer and managing director of TCS.
"We are scaling up our global execution capability to implement our growth strategies and create value for customers," he told a press conference here.
The company added 68 new clients in the April-June quarter, including a leading global US-based financial services firm on a contract worth $100 million.
One of Europe's largest telecom groups has also signed up with TCS for developing corporate solutions within the human resources domain to standardise and consolidate their employee resource planning environments.
There was a net addition of 2,690 employees in TCS during the quarter ended June 30, 2005. The company's attrition rate was 8.2 percent in the last 12 months.
During the year, the company plans to add 13,500 associates in India and 2,000 at overseas locations.