America powers rise in Tata Consultancy Service profit
TCS revenue in Quater1 was $136 million and total employee strength was 3,24,935
Mumbai: India’s largest software exporter Tata Consultancy Service (TCS) on Thursday, which kicked off the earnings season, reported better than expected results for the quarter ended June 2015, driven by strong demand in its core markets like North America and greater traction for digital solutions in key verticals.
The company reported a net profit of Rs 5,708 crore during the April-June quarter, posting a growth of 12.87 per cent as compared to the same period last year. The company’s revenue increased 16 per cent to Rs 25,668.1 crore from Rs 22,111 crore reported during the previous year.
“Demand from our core markets like North America and greater traction for ‘Digital’ solutions in key verticals like financial services, retail and life-sciences has driven volumes and growth in Q1. Our significant investments in IP and platforms, digital capabilities and our execution track record gives us a firm foundation to capture growth in the current financial year,” said Mr N. Chandrasekaran, MD and CEO, TCS.
Given the strong pipeline and market adoption of digital across industries, Mr Chandrasekaran said that the company would be investing to train over 100,000 professionals this year in all relevant technologies.