CIMdata PLM Industry Summary Online Archive
17 April 2013
Financial News
TCS Closes FY13 with Sustained Growth Momentum
Tata Consultancy Services reported its consolidated financial results according to IFRS for the quarter and financial year ended March 31, 2013.
Commenting on the 2012-13 performance, N. Chandrasekaran, CEO and MD said: “TCS has delivered a year of strong growth with all markets and industry segments growing in double digits. Our ability to co-create with customers, remain relevant to their business and our investments in digital technologies are delivering tangible value as customers optimize, transform and grow.”
Looking ahead to FY14, Mr Chandrasekaran said: “We remain confident that 2013-14 will bring greater opportunities as technology plays an increasing role in reimagining business globally. We continue to identify new growth engines and are investing ahead of the curve in products, platforms and intellectual property that is of great relevance to our customers and their business growth.” He added: “As an industry leader, we remain focused on sustaining our momentum.”
Rajesh Gopinathan, Chief Financial Officer, said: “Our growth has been well-rounded in 2012-13 and we have endeavored to maintain our profitability despite stiff headwinds and increased volatility through the year. We continue to ensure cost discipline at an operational level while supporting diversified business growth.”
For TCS, there was balanced growth across markets and industries during the financial year. All industry verticals grew during FY13. TCS’ full services capabilities continue to be leveraged by customers with service lines like Infrastructure Services, Business Process Outsourcing, Assurance Services and Global Consulting growing at higher than company average.
To view an unabridged version of this press release, visit: http://www.tcs.com/SiteCollectionDocuments/Investors/Presentations/TCS_PressRelease_IFRS_USD_Q4_13.pdf
Become a member of the CIMdata PLM Community to receive your daily PLM news and much more.
Tell us what you think of the CIMdata Newsletter. Send your feedback.
CIMdata is committed to your privacy. Your personal information will never be sold or shared outside of CIMdata without your express permission.