TCS Q3 profit jumps 27 per cent to Rs 3,550 cr- Business News

TCS Q3 profit jumps 27 per cent to Rs 3,550 cr

 PTI   Mumbai     Last Updated: January 14, 2013  | 20:55 IST

Tata Consultancy Services (TCS), the country's largest software firm, has reported 26.7 per cent jump in consolidated net profit to Rs 3,550 crore for the quarter ended December 31, 2012.

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It had posted net profit of Rs 2,803 crore in the same quarter of the previous fiscal (2011-12).

"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.

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The company had good revenue growth, balanced across service lines, industries and geographies, he added.

Revenues rose 21.7 per cent to Rs 16,070 crore in the third quarter of 2012-13, from Rs 13,204 crore in the year-ago period, TCS said in a statement.

"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.

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TCS operating margin expanded by 56 basis points to 27.3 per cent.

The company saw addition of 17,145 (gross) and 9,561 (net) people, taking its total headcount to 2,63,637.

"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.

Shares of TCS closed the day's trade 2.14 per cent higher at Rs 1,334.30.

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