TCS quarterly net profit rises 18.2 percent

January 17th, 2012 - 8:48 pm ICT by IANS  

Mumbai, Jan 17 (IANS) India’s largest software service exporter Tata Consultancy Services (TCS) Tuesday reported an 18.2 percent rise in net profit at Rs.2,802.77 crore for the December quarter as broad-based growth in several markets and industries and a weak rupee helped earnings.

The company reported a 36.6 percent increase in revenue at Rs.13,204 crore.

“Growth has been broad-based with all markets and all industries contributing substantially,” said N. Chandrasekaran, chief executive and managing director.

“While technology budgets are still being set for next fiscal, there is little doubt that technology is a key resource to help global businesses optimize their operations and fuel growth in the current economic climate,” he added.

Operating margins also improved 218 basis points at 29.2 percent.

“We continue to focus on managing our operations optimally in the face of increased external volatility. We have increased our operating margins significantly by taking the benefits of growth, exchange movements and by keeping a strong focus on cost management,” said S. Mahalingam, chief financial officer.

Europe led the growth story with 18.1 percent growth sequentially, followed by the US (13.3 percent) and UK (9.5 percent). In the emerging markets, Latin America showed significant momentum with 18.6 percent growth sequentially followed by India (14.8 percent) and Asia-Pacific (15.7 percent).

However, offshore revenues were almost flat at 50.5 percent.

For the nine months of this fiscal, net profit rose 16.6 percent to Rs.7,518.56 crore.

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