India's largest software company Tata Consultancy Services reported a consolidated net sales jumped 4% to Rs 9,663.35 crore from Rs 9,286.39 crore it recorded a quarter ago. It saw sequential profit growth of 9.24% for the third quarter-ended September to Rs 2369.83 crore versus Rs 2,169.21 crore.
Speaking at a press conference, N Chandrasekaran, the company's Chief Executive Officer said that he hoped that demand would continue to be strong going forward. The deal pipeline, he said, continued to look healthy. The company added 35 new clients during the quarter. Volume growth in Q3 was primarily on account of growth by mature markets. Pricing too during the quarter went up by 1.18% sequentially. Offshore revenues during the quarter also grew a healthy 30 basis points to 51.4%. The appreciating rupee has been a major concern for software exporters and TCS too was not spared. The company saw an adverse impact of currency movement in the October-December quarter. Its Q3 forex gain however came in at Rs 52.16 crore. Chandrasekaran said the company is continuing to experience currency volatility. Employee attrition stood at 14.3% n Q3 while the company added 20,219 employees during the quarter. Employee utilisation including for trainees came in at 83.8% in Q3. To catch the complete press conference watch videos...Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
