TCS first quarter net up by 0.7 per cent

Kolkata, Jul 16: Tata Consultancy Services today reported net profit at Rs 1,203 cr, up 36.3 per cent year on year basis.

Total Revenues of the company was reported at Rs 5,203 cr, up 25.2 per cent Y-o-Y basis.

The company reported EPS at Rs 12.29 in the first quarter. It added 54 new clients added in Q1 and announced Rs 3 per share divided.

TCS MD S Ramadorai said, ''This quarter has validated the strength of our business model and our ability to respond to the external financial environment and drive growth under challenging circumstances.'' He said that despite factoring in wage hikes and an appreciating rupee, we have maintained profitability by great execution, demand creation and strong financial management.'' TCS continued to drive its pro-active program of long-term financial management with a strong focus on countering the impact of the appreciating Indian rupee against the US dollar and other major currencies.

In dollar terms, TCS revenues grew by 8 per cent during Q1 driven by volume increases with an upward pricing bias, with banking, financial services, telecom and life sciences verticals performing strongly. Among service lines, Assurance services and asset leveraged solutions continue to grow faster than the average company growth rate.

''Our focus on key accounts continues to yield positive results with significant movement of clients to higher revenue bands. TCS now has 6 customers with annual billings of over 0m,'' said TCS head Global sales N Chandrasekaran said.

There was a gross addition of 8,706 employees of which 2,898 were trainees and 4,795 were experienced professionals in India and 1,013 employees in overseas subsidiaries and branches in Q1. The net addition was 5,512 employees.

UNI