TCS Q3 revenue up 15%, profit up 5%

IT services provider Tata Consultancy Services (TCS) said its revenue rose 15.1 percent to Rs 24,501 crore in third quarter of fiscal 2015, while net profit grew 5.1 percent to Rs 5,444 crore.
TCS said it added 4,868  employees (net additions) and the total headcount stands at 318,625 as on 31 December 2014.

The number of $100 million+ clients increased by one, $50 million+ clients increased by three and of $5 million+ clients increased by 20.

TCS CEO N Chandrasekaran said: “We have 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.”

TCS CEO N Chandrasekaran
“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,” he added.

Industries such as telecom, hi tech and life sciences were the growth drivers in Q3. 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.

The attrition rate was 13.4 percent, said TCS.

“Our hiring continues to support strong business growth, we are likely to exceed our hiring target for the current financial year,” said Ajoy Mukherjee, executive vice president and global head, Human Resources.

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