TCS reports slight slide in profit

Mumbai: The star of the IT world, TCS, reported a marginal slide of 0.1 per cent in its profit at Rs 5,328 crore for the third quarter ended December 31, 2014, but increased its revenues by 15 per cent to Rs 24,501 crore.

TCS managing director and chief executive N Chandrasekaran said, “We have maintained our momentum in a traditionally weak quarter for the industry,” and based on this progress, they are well on their way to post industry-leading growth for FY14, he added. Their focus area, he said, would be digital, simplification and governance. “We continue to partner closely with customers to help them prepare their business to succeed in an economy where the default is digital,” he said.

Their Q3 growth was driven by telecom, high tech and Life Sciences and Europe led the growth. Latin America registered strong growth among emerging markets. The company added an additional 16,561 employees (gross) and the total headcount is 3,18,625.