During the December quarter TCS' net profit rose 27% while total revenue increased 21% on productivity gains and expanded operating margins
Mumbai: Tata Consultancy Services (TCS), India’s largest software company, on Monday reported a 26.7%jump in its consolidated net profit to Rs3,550 crore for the quarter ended December 2012, reports PTI.
The Tata group company had posted net profit of Rs2,803 crore in the same quarter of the previous fiscal (2011-12).
During the third quarter its total revenues rose 21.7% to Rs16,070 crore from Rs13,204 crore in the year-ago period, TCS said in a statement.
“We have had an excellent quarter of well-rounded performance and have driven a higher quality of revenue and increased profitability through focus on productivity and innovation," TCS chief executive officer and managing director N Chandrasekaran said.
The company had good revenue growth, balanced across service lines, industries and geographies, he added.
“The overall performance has been in line with what we had outlined at the beginning of the year. Our superior execution in this seasonally weak quarter has delivered productivity gains and an expanded operating margins,” TCS CFO and executive director S Mahalingam said.
TCS operating margin expanded by 56 basis points to 27.3%.
The company saw addition of 17,145 (gross) and 9,561 (net) people, taking its total headcount to 2.63 lakh.
“We have hired almost 50,000 professionals in the first three quarters of this financial year to support business growth and we continue to forecast a healthy growth in the workforce numbers going forward," TCS Executive VP and Head (Global HR) Ajoy Mukherjee said.
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