The profit of TCS grew 6.2 percent to $926 million. The Q2 of a fiscal year has traditionally been the strongest period for India’s IT firms.
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TCS President and doctor N Chandrasekaran said: “We have provided accelerated development in constant currency conditions for Q2”.
Revenue growthThe company reported a 3.9 per cent sequential revenue growth in the constant currency terms quarter-on-quarter, missing analysts’ expectations and lagging behind rival Infosys, which reported six per cent sequential growth.
For the quarter ended 30 September 2015, TCS’ revenue grew 5.8 per cent to Rs27,165.5 crore (3 per cent to $4.16 billion in dollar terms).
According to a quarterly report of IIFL Ltd, “Infosys is likely to carry the growth momentum of Q1 FY16 when it had delivered an over 5 per cent quarter-on-quarter volume growth led by deal wins and client mining”.
Its net profit increased 14.5 percent year-on-year and 6.1 percent sequentially to Rs.6,055 crore under the Indian accounting standard. Driven by great execution on the ground, our broad-based performance has been led by strong seqential growth in BFS, retail and life sciences verticals with United Kingdom and North America leading the markets.
The business said primary areas like the United Kingdom, Europe and North America became smartly together with emerging areas like MEA, India and Latin America.
The company said there was a total gross addition of 25,186 people (net addition of 10,685 employees) taking the total employee strength of 3,35,620 on consolidated basis. The utilisation fee (excluding trainees) was at 86 per cent while the attrition rate stood at 16.2 percent. “Our hiring continues to be strong with all time-high of over 25,000 joining the company from July to September”, said global head for human resources Ajoy Mukherjee.
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Shares of TCS closed at Rs 2,597.40 a piece, marginally up 0.19 percent on the Bombay Stock Exchange before the earnings announcement on Tuesday.
