TCS' client additions impressive: SG Cowen

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TCS' client additions impressive: SG Cowen

Tata Consultancy Services, TCS announced its third quarter results yesterday. Moshe Katri of SG Cowen says that TCS has done a great job in offsetting factors like currency volatility and attrition

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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.