TCS Q1 meets market expectation; net up 37% YoY

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TCS Q1 meets market expectation; net up 37%
India's largest software service exporter, Tata Consultancy Services (TCS) results came inline with market expectation, with a good set of numbers for Q1 2012-13.

The company's revenue stood at Rs 14,890 crores, up 37.7% year-on-year (y-o-y) and up 12.1% quarter-on-quarter (q-o-q). Net profit stood at Rs 3,318 crore up 37.4% y-o-y and up 14.6% (q-o-q).

Operating profit rose by 44.3% on y-o-y at Rs 4,077. TCS will pay a dividend of Rs 3 per share. Earning per share stood at Rs 16.92.

Commenting on the results, CEO N Chandrasekaransaid, "We've seen strong, secular growth across service lines and industry segments driven by robust volumes from key markets." He added that investments in new technologies and platforms are bearing fruit with increasing market traction. 

Chandrasekaran also said, "We continue to see good demand from global corporations as they successfully navigate an increasingly complex business environment." He expressed confidence at playing a pivotal role in our customers' future business evolution.

This quarter TCS added 13, 831 employes and 29 new clients, the company said in the press release.

Shares in TCS closed the day at Rs 1236.10, down 1.80% on the BSE.

Read more about: tcs
Story first published: Thursday, July 12, 2012, 17:30 [IST]
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