Digital drives TCS revenue to grow 5.8% to $4.2 bn in Q2

TCS CEO N Chandrasekaran
IT services provider Tata Consultancy Services (TCS) today said its digital business has driven its revenue to grow 5.8 percent to $4.16 billion in the second quarter ended September 30, 2015.

The profit of TCS grew 6.2 percent to $926 million.

Mumbai, India-headquartered TCS added 25,186 employees in Q2 to reach total headcount of 335,620.

“Driven by great execution on the ground, our broad-based performance has been led by strong sequential growth in BFS, Retail and Life Sciences verticals with UK and North America leading the markets,” said TCS chief executive officer N Chandrasekaran.

Growth was broad-based in Q2 with all industries growing on a sequential basis led by BFS, Retail, Life Sciences and Travel & Hospitality. Core markets like UK, North America and Europe grew smartly along with emerging markets like Latin America, India and MEA. There was balanced growth across service lines led by Asset Leveraged Solutions.

The IT outsourcing company added 25,186 people in the quarter. With 14,501 techies leaving during the period, net addition was 10,685, taking its total employees to 335,620. Attrition rate was at 16.2 percent on annualised basis.

The attrition rate at TCS was 16.2 percent including BPS. “Our hiring continues to be strong with all time-high of over 25,000 employees joining us this quarter,” said Ajoy Mukherjee, executive VP and global head, Human Resources at TCS.

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