Tata Consultancy Services reported its consolidated financial results according to IFRS for the quarter ended September 30, 2014.
Financial Highlights for Quarter Ended September 30, 2014
- Operating Profit at $ 1,055 million; Growth of 8.6 % Q-o-Q and 4.8 % Y-o-Y
- Earnings Per Share at $ 0.45
Business Highlights for Quarter Ended September30, 2014
- Gross employee addition: 20,350
- Total headcount: 313,757
- Utilization: 86.2% (excluding trainees) & 81.3% (including trainees)
- Four $50+ million clients added; Nine $20+ million clients added
Commenting on the Q2 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said: “Driven by strong volumes and robust utilization rates, this has been a quarter of steady, consistent performance. Our well-rounded showing has been highlighted by broad-based growth in our key markets, industries and services as we continued to deepen our engagement with customers.”
Mr Chandrasekaran added: “Our customers are focused on using Digital technologies to reimagine their business in multiple dimensions and with our significant investments as well as deep capabilities in these areas, we remain well positioned to act as a catalyst and enable their business innovation across the enterprise.”
Rajesh Gopinathan, Chief Financial Officer, said: “We remain focused on supporting business growth by optimizing our operations and maintaining margins in our desired range. Our cash generation has been strong resulting in high cash conversion ratios and we continue to make investments for the business growth.”
Growth in Q2 was broad-based with all industries growing on a sequential basis. The impact of the integration of newly merged entity in Japan also provided additional growth to units like Manufacturing, Hi-Tech. All core markets like North America, Europe and UK grew smartly. Emerging markets continued to be volatile with India growing while Latin America faltered in Q2. There was balanced growth across IT and other service lines led by Infrastructure Services and Engineering Services.
To view an unabridged version of this press release, visit: http://www.tcs.com/SiteCollectionDocuments/Investors/Presentations/TCS_PressRelease_IFRS_USD_Q2_15.pdf
