TCS beats street expectations, sees 3.54% volume growth

Tata Consultancy Services Q1 volume growth is at 3.54% while its earnings per share is at Rs 7.83 versus Rs 6.59 (YoY). The company's revenue from new clients is at 0.3% versus 0.4% (YoY). With regard to the job scenario, the company stated that fresh campus recruitments will start in January 2010.

Addressing a press conference after announcing its first quarter results, Tata Consultancy Services said the company has maintained vigour in its pricing deals. The company's management said they will focus on pharma, energy, and utility sectors that are showing results. They added that telecom, manufacturing, and IT sectors are under pressure.  

There are lower costs, lower forex, loss and increased dividend in the first quarter, it said. "Forex hedging loss stand at Rs 85 crore versus Rs 195 crore (QoQ). This will come down further due to less outstanding hedges."

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