* Revenues cross $4 billion in 9 months
* Q3 revenues at Rs 5,923 crore, up 22% Y-o-Y; up 5% Q-o-Q
* Q3 profit after tax at Rs 1,327 crore up 19% Y-o-Y; up 6% Q-0-Q
* EPS at Rs 13.56 in Q3
* 54 new clients added in Q3
* 7,522 employees joined the company in Q3
* Quarterly dividend of Rs 3 per share
Big deals across sectors like the recent $1.2 billion one with The Nielsen Company is helping India's largest IT services provider Tata Consultancy Services (TCS) to comfortably become an over $5 billion company by the end of the financial year 2007-08.
The company posted a consolidated net profit (Indian GAAP) of Rs 1,327 crore for the third quarter ended December 31, 2007 -- up 19% when compared with the figure for the corresponding quarter last financial year.
Its revenue figure of $1.5 billion (Rs 5,923 crore) was an increase of 22% year-on-year (YoY).
"Our diversified business model continues to sustain the growth momentum despite several external challenges. There is growth momentum across geographies with contributions from all business units," said chief executive officer and managing director S Ramadorai.
S Mahalingam, chief financial officer, noted that the company "continues to drive margins through rate and productivity efficiencies and keep a strong handle on costs."
TCS improved its operating margins despite a 2.3% appreciation in the rupee against the US dollar during the quarter under review. The company had about $3.1 billion outstanding in hedges at the end of Q3.
"We have a strong qualified pipeline across geographies and verticals to sustain our growth," said chief operating officer N Chandrasekaran. "Our investments in Latin America, India, APAC have given us pole position in these emerging markets, while our full services play and global network delivery model drives growth in established markets like USA, UK and Europe."
Despite external challenges, the banking and financial services vertical witnessed strong growth in Q3 with the revenue share increasing sequentially. The travel and hospitality as well as the energy and utility verticals also grew faster than the average company growth rate. Large IT outsourcing engagements are gaining strength in established and newer geographies like Asia Pacific, India, Middle East and Africa as well as Latin America.
On the hiring front, TCS has added over 28,000 employees in the current financial year, and has already made over 22,000 campus offers for the next year.
TCS is the largest IT employer in India with 108,229 employees at the end of Q3. It made a gross addition of 7,522 employees in Q3. The company continues to maintain the lowest attrition rate in the industry at 12.2%. Foreign nationals formed 8.3% of the total employee base and 28% were women. Around 49% of the employees have over three years of experience.
No comments:
Post a Comment