Tata Consultancy Services Ltd, India's largest software services exporter, on Tuesday reported a 12 per cent jump in net profit for the third quarter, beating analysts’ expectations.
Net income for the third-quarter rose to Rs. 6,11,0 crore from Rs. 5,440 crore a year earlier. The company’s revenue rose 11.7 per cent to Rs. 27,364 crore, when compared to Rs. 24,501 crore from the year-ago period.
Analysts have expected TCS to post profit of Rs. 6,010 crore on revenue of Rs. 27, 640 crore, according to data compiled by Bloomberg.
Steady Quarter“Overall it is a steady quarter given that it is traditional a weak quarter and the Chennai floods made it a even weaker quarter,” N. Chandrasekaran, Chief Executive Officer and Managing Director, of TCS told reporters in a press conference in Mumbai.
The employee utilization was 84.9 per cent (excluding the trainee) and 80.9 per cent (including trainee), while attrition was 15.3 per cent in IT services and 15.9 per cent including the Business process services, down 30 basis points.
Mr. Chandrasekaran also said that the firm has not heard anything negative from its clients yet, however it will take at least a month to assess the situation. It all depends how fast the ramp ups happen this year, he added.
