India’s largest software services exporter TCS said it was confident of beating the industry’s projected growth rate of 13-15 percent and added that it was seeing “tremendous” deal momentum going into next year.
“All our markets are in good shape. Both US and Europe are doing well,” TCS CEO N Chandrasekaran told reporters at a press conference today.
TCS third-quarter revenue grew 2.9 percent quarter-on-quarter to Rs 24,501 crore while net profit too rose 2.9 percent. In dollar terms, revenue USD 3931 million, flat compared to the previous quarter.
“The Q3 revenue growth was driven by a 2.3 percent jump in pricing,” the CEO said, adding that the company’s margin band remained unchanged at 26-28 percent.
While earlier, TCS had maintained it expects revenues in FY15 to grow at a faster clip compared to FY14’s 16.2 percent, it lowered its guidance following the second-quarter results. After posting year-on-year growth rates of 16.7 percent, 17.7 percent and 14.3 percent in the first three quarters, it will need to clock minimum 16.1 percent growth rate in the seasonally weak fourth quarter if it has to match last year’s growth.
Elaborating on the third quarter results, TCS said the company signed seven large deals across 5 secotrs and added one USD 100 million client. Its attrition stood at 13.4 percent.
TCS also declared an interim dividend of Rs 5 per share.
To watch the complete press conference, click on the video.
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