Tata Consultancy Services [Get Quote] reported a net profit of Rs 1,271 crore (Rs 12.71 billion), up 1.5% quarter-on-quarter, for the second quarter ended September 30, 2008.

The Q2 revenues of the company stood at Rs 6,953 crore (Rs 69.53 billion), up 8.5% over the previous quarter.

The H1 revenues of the company stand at Rs 13,364 crore (Rs 133.64 billion), up 24.8 % Y-o-Y; while the H1 net profit is at Rs 2,562 crore (Rs 25.62 billion) up 4.4 % Y-o-Y.

The company added 51 new clients added in Q2; while as many as 9,682 employees joined the company during the period.

S Ramadorai, TCS chief executive officer, in a statement, said: "Our growth has been balanced across markets and verticals with a 9.5 per cent sequential growth in our international business during Q2 and we have improved margins significantly."

"New opportunities are emerging and there are signs that our services will play a significant part in the global economic recovery. Our acquisition of Citigroup Global Services will provide another driver for growth," he added.

The IT major's chief financial officer S Mahalingam, said: "In a quarter where the Indian rupee and global currency has been very volatile, TCS has managed to deliver greater profitablity by achieving significant improvement in operating profits and margins. We have a sustainable business model and we remain focused on managing risks, continued growth and delivering margin improvements going forward."