CIMdata PLM Industry Summary Online Archive
18 July 2013
Financial News
Tata Consultancy Services: Strong Volumes Drive Another Stellar Quarter
Tata Consultancy Services reported its consolidated financial results according to IFRS US Dollars for the quarter ended June 30, 2013.
Financial Highlights for Quarter Ended June 30, 2013
- Operating Profit at $ 856 million up 14.0% Y-o-Y
- Dividend per share of ` 4
Business Highlights for Quarter Ended June 30, 2013
- Gross Addition of 10,611 Employees
- High Utilisation rates at 82.7% (excluding trainees)
- Two new $100million clients added
Commenting on the Q1 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said: “We have delivered another solid quarter, driven by the highest volume growth in the past seven quarters. It has been an all-round performance with strong revenue growth across markets led by the US. Our investments in Europe continue to gain strong traction with customers and helped us deliver industry-leading growth this quarter.”
Mr Chandrasekaran added: “Strong momentum in our business, the right cost structure, a customer-centric approach and our increasing investments in new digital solutions and services positions us well to post another year of strong business growth.”
Rajesh Gopinathan, Chief Financial Officer, said: “The current environment demands an agile operating model that can capture diverse growth opportunities. We continue to execute to plan and invest for growth, while maintaining stability in our margin profile.”
Growth in Q1 was holistic. Growth was seen across all industry segments led by Life Sciences, Retail, Telecom and BFSI. There was balanced growth across IT and other service lines led by Assurance, EiS, Global Consulting and Asset Leveraged Solutions. Major markets grew smartly led by USA, Europe and UK alongside growth in emerging markets like Latin America and Asia Pacific.
During the quarter, TCS closed the acquisition of Alti, one of the top 5 system integrators of SAP solutions in France with several top French corporations in the banking, financial services, luxury, manufacturing and utilities sectors as its key customers.
To view an unabridged version of this press release, visit: http://www.tcs.com/SiteCollectionDocuments/Investors/Presentations/TCS_PressRelease_IFRS_USD_Q1_14.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.