TCS Q3 net up 18.26% (y-o-y)

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TCS Q3 net up 18.26% (y-o-y)
India's largest software exporter, Tata Consultancy Services Limited (TCS) reported quarter earnings for its fiscal ended December 2011. The company has reported a consolidated net profit of Rs 2,803 crore, jump by 18.26% year on year (y-o-y), 21.8% quarter on quater (q-o-q). In the previous year, it had reported a net profit of Rs 2,301 crore.

The company's revenue stood at Rs 13,204 crore up 13.5% Q-o-Q, 36.6% Y-o-Y. TCS operating margins were up by 218 base points at 29.2%.

The board has declared an quaterly dividend of Rs 3 per share, EPS at Rs 14.30 in Q3.

TCS in this quater added 40 new clients and had cracked 10 large deals across multiple verticles. The company had added another two $100 million clients inceasing number to 14 from 12.

TCS CEO and MD, N Chandrasekaran said: “Our customer-centric approach in the market and execution rigor on the ground enabled TCS to post a strong financial performance in this quarter. Growth has been broad-based with all markets and all industries contributing substantially.”

“While technology budgets are still being set for next fiscal, there is little doubt that technology is a key resource to help global businesses optimize their operations and fuel growth in the current economic climate. In this environment TCS is partnering with clients to achieve their objectives using our integrated portfolio of solutions, he further added.

S. Mahalingam, Chief Financial Officer, said: “We continue to focus on managing our operations optimally in the face of increased external volatility. We have increased our operating margins significantly by taking the benefits of growth, exchange movements and by keeping a strong focus on cost management.”

He added: “The level of currency and market volatility has only risen in the past three months and we are adapting our strategies accordingly.

During the quarter, the company added 18,907 (gross) and 11,981 (net) employees and attrition rate fell to 12.8%.

Meanwhile, on BSE the company was trading at Rs 1,061 down by 43.30 points or 3.92%.

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