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TCS Q3 net jumps 27% to Rs 3,550 cr

Tata Consultancy Services on Monday reported 26.7 per cent jump in consolidated net profit to Rs 3,550 crore (Rs 35.5 billion) for the quarter ended December 31.

It had posted net profit of Rs 2,803 crore (Rs 28.03 billion) in the same quarter of the previous fiscal (2011-12).

Revenues rose 21.7 per cent to Rs 16,070 crore (Rs 160.7 billion) in the third quarter of 2012-13, from Rs 13,204 crore (Rs 132.04 billion) in the year-ago period, TCS said in a statement.

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TCS Q3 net jumps 27% to Rs 3,550 cr

"We have had an excellent quarter of well-rounded performance and have driven a higher quality of revenue and increased profitability through focus on productivity and innovation," TCS Chief Executive Officer and Managing Director N Chandrasekaran said.

The company had good revenue growth, balanced across service lines, industries and geographies, he added.

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TCS Q3 net jumps 27% to Rs 3,550 cr

"The overall performance has been in line with what we had outlined at the beginning of the year.

"Our superior execution in this seasonally weak quarter has delivered productivity gains and an expanded operating margins," TCS CFO and Executive Director S Mahalingam said.

TCS operating margin expanded by 56 basis points to 27.3 per cent.

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TCS Q3 net jumps 27% to Rs 3,550 cr

The company saw addition of 17,145 (gross) and 9,561 (net) people, taking its total headcount to 2,63,637.

"We have hired almost 50,000 professionals in the first three quarters of this financial year to support business growth and we continue to forecast a healthy growth in the workforce numbers going forward," TCS Executive VP and Head (Global HR) Ajoy Mukherjee said.