Tata Consultancy Services, TCS has announced its third quarter results. The company posted 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%.

Its revenues was up 8.4% at Rs 4860 crore (Rs 48.60 billion) from Rs 4482.2 crore (Rs 44.82 billion).

The company's results was above the expectations.

TCS added 7835 employees and net employees addition was 5562 versus

6663 net employees in Q2.

It has bagged 2 - USD 100 million deals, USD 350 million deal & 55 clients.

The company bagged USD 100 million deal from Bank of China & USD 140 million deal from LatAm Bank.

Q3 Highlights

• Baged two USD 100 M deals, three USD 50 M deals
• Adds 55 new clients versus 58 new clients in Q2
• Adds 5565 net employees versus 6663 net employees in Q2
• Other income of Rs 29.98 crore versus income of Rs 7.73 crore in Q2

Highlights

• Top client grew at 26.13% QoQ, BFSI vertical grew 10.46% QoQ
• Offhsore revenues stood at 41.6% vs 41%
• Attrition rate at 10.8% vs 10.6% in Q2
• Plans to add 30500 employees in FY07
• Already made 11250 campus offers for FY08

Net profit Margin # US GAAP

• Q4FY06: 21.67%
• Q1FY07: 20.82%
• Q2FY07: 22.12%
• Q3FY07: 22.7%

According to CNBC-TV18 estimates, the company's net profit was expected to go up 9.24% from Rs 991.5 crore (Rs 9.91 billion) to Rs 1083.11 crore (Rs 10.83 billion), QoQ.

Its revenues was seen going up 6.89% from Rs 4482.2 crore (Rs 44.82 billion) to Rs 4791.08 crore (Rs 47.91 billion).

Table bseiindia.com