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TCS revenues at US$3.93 billion in Q3

TCS, outsourcing | Jan. 19, 2015
Growth driven by telecom, hi tech and life sciences.

The revenues for IT services, consulting and business solutions firm Tata Consultancy Services reached US $3.93 billion in the third quarter of financial year 2014-15.

Growth in this quarter that ended December 31, 2014 was driven by industries like telecom, hi tech and life sciences.

The operating profit in this period was US$ 1,063 million, which is up 3.9% year on year (YoY).

Gross employee addition in this quarter was 16,561, total headcount was 318,625 and employee utilization was 86.7% (excluding trainees). Employee utilization including trainees was 82.1%.

"We have maintained our momentum in a traditionally weak quarter for the IT industry," said chief executive officer and managing director, N Chandrasekaran. "In constant currency terms, we have seen 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."

Emerging markets

Latin America and MEA registered strong growth among emerging markets. While Europe led growth, North America also grew during the quarter.

TCS achieved several accolades during this period including being chosen by a leading beverages company to manage and build a private cloud for their global infrastructure operations.

It was also chosen as a preferred technology partner by a leading British mutual financial institution, and selected as the strategic partner by a large Indian financial institution to implement full service digital banking.

Other achievements include the company being chosen by a leading UK based bank to build a collaborative social platform and selected by an insurance company to increase awareness of their employees around risks.

"Based on our progress this quarter, we are well on our way to post industry-leading growth for FY15," added 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."


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