Tata Consultancy Services reported its consolidated financial results according to IFRS US Dollars for the quarter ended December 31, 2014.
Financial Highlights for Quarter Ended December 31, 2014
- Operating Profit at $ 1,063 million up 3.9 % Y-o-Y
Business Highlights for Quarter Ended December 31, 2014
- Gross employee addition16,561
- Total headcount: 318,625
- Utilization: 86.7% (excluding trainees) & 82.1% (including trainees)
- No of $100m+ clients increases by 1; No of $50m+ clients increase by 3; No of $5M+ clients increase by 20
Commenting on the Q3 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said: “We have maintained our momentum in a traditionally weak quarter for the IT industry. In constant currency terms, we have seen significant growth in USA, Europe as well as emerging markets like Latin America and Middle-East Africa. Our diversified industry portfolio and presence across key markets have helped us overcome soft seasonal demand in some sectors.”
Mr Chandrasekaran added: “Based on our progress this quarter, we are well on our way to post industry-leading growth for FY15. In areas like Digital, Simplification and Governance, we continue to partner closely with customers to help them prepare their businesses to succeed in an economy where the default is digital.”
Rajesh Gopinathan, Chief Financial Officer, said: “Sharp cross currency movements have impacted dollar revenues, but we continue to manage operations with discipline and rigour while investing in people, capabilities and infrastructure on an ongoing basis.
Growth in Q3 was driven by industries like Telecom, Hi Tech and Life Sciences. Europe led growth, driven by the investments made in that market, while North America also grew during the quarter. Among emerging markets, Latin America and MEA registered strong growth. Among service lines, Global Consulting, Asset Leveraged Solutions, Infrastructure Services and Assurance Services were the leaders.
To view an unabridged version of this press release, visit: http://www.tcs.com/SiteCollectionDocuments/Investors/Presentations/TCS_PressRelease_IFRS_USD_Q3_15.pdf
