TCS continues strong performance; net surges

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     TCS continues strong performance; net surges
    Tata Consultancy Services (TCS) has outshone some of its peers with Q2 numbers beating forecasts. The company has reported a net profit of Rs.3,434 crore for the second quarter of 2012-13, a 49.4 per cent growth over the year-ago figure.

    TCS has declared a second interim dividend of Rs.3 per share of Re.1 each.

    The operating margin for the company stands at 26.7%, which was slightly lower than market expectations.

    "Growth in Q2 was very broad-based and seen across all industry segments led by Manufacturing, Retail, Telecom and BFSI. There was balanced growth across all service lines with new services like Infrastructure growing in double digits. All markets grew; major markets were led by UK and Europe while growth markets like India, APAC, Latin America and Middle East performed well," TCS states in a release.

    Commenting on the Q2 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said: "We have delivered a strong performance with well-rounded growth across industries and geographies. Our execution excellence is winning recognition and our service offerings remain relevant for customers. He added: "As the global operating environment continues to evolve, there is little doubt that technology is playing a more pivotal role to shape the future of every industry than ever before. Our investments and capabilities make TCS extremely relevant to participate in imagining and co-creating this future with our customers."

    TCS also announced that Rajesh Gopinathan, vice president, business finance will take over as the next Chief Financial Officer of the company when S Mahalingam retires on February 9, 2013.

    Read more about: tcs
    Story first published: Saturday, October 20, 2012, 9:21 [IST]
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