TCS' client additions impressive: SG Cowen

Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Buy Tata Consultancy Services: Edelweiss Research TCS first Indian firm to earn $1 bn in a qtr TCS' top client grew 26.13% QoQ TCS Q3 revenues cross $1 billion milestone Key takeaways from TCS Concall ALSO READ News and Notices about TCS See interviews with TCS Management See what other Experts & Brokerages are saying about TCS See previous Results of TCS TCS BSE | NSE 10/02/12 Are Mutual Funds betting on TCS?

Tata Consultancy Services , TCS announced its third quarter results yesterday. The company posted a net profit of Rs 1104.7 crore (Rs 11.04 billion) versus Rs 991.5 crore (Rs 9.91 billion) in the previous quarter, increased by 11.41%.

 

According to Moshe Katri of SG Cowen, what stood out in TCS' statement yesterday was their client additions. "The client additions number was 30 new clients on sequential basis, the number looked very impressive on their side."

 

He avers that TCS has done a great job in offsetting a lot of factors like currency volatility and attrition etc, which were reflected in yesterday's numbers.

 

"The tier I offshore players are doing an outstanding job and coming out with a decent quarter, considering the seasonal factors associated with the December quarter," he adds.