TCS Q1 fiscal 2015 revenue up 23%, profit rose 27%

Tata Consultancy Services (TCS) today said its first fiscal quarter revenue increased 22.9 percent to Rs 22,111 crore, while profit rose 26.9 percent to Rs 5,058 crore.

TCS said gross addition of employees was 15,817 and net Additions was 4,967 in Q1 fiscal 2015.

The company added five new $50+ million clients.

TCS chief executive officer and managing director N Chandrasekaran said: “We have a strong demand pipeline in place and our customer-centric mindset, leadership in the Digital space and strong execution capabilities will help us to sustain our momentum.”

TCS India
During Q1, TCS posted the highest incremental revenue of $191 million in the last 15 quarters driven by growth across markets led by North America, Europe, India and Asia-Pacific.

TCS said growth was seen across all industry segments led by Media & Information Services, Life Sciences, Retail and Telecom with all non-BFS verticals growing in excess of five percent sequentially.

The total employee strength at the end of Q1 was 305,431 on a consolidated basis. The utilization rate (excluding trainees) was 85.3 percent and that including trainees was 79.8 percent. The attrition rate was 12.0 percent including BPS.

“Our focus on productivity continues to yield results with utilization rates at an all-time high of over 85 percent. We have already started on-boarding the campus trainees this year with 2,500 joining in June,” said Ajoy Mukherjee, executive vice president and global head, Human Resources.