Tata Consultancy Services, India’s largest software and services firm, announced robust results for the first quarter of 2006-07, with a net profit of Rs 883 crores, an increase of 34.99 per cent year-on-year, while total increase jumped 46.27 per cent to Rs 4,227 crores year-on-year.
TCS’ net profit jumped 6.07 per cent quarter-on-quarter while its total income recorded an increase of 13.96 quarter-on-quarter. EPS rose from Rs 17.01 in the last quarter of 2005-06 to Rs 18.04 in the first quarter of this fiscal, a company release said, adding that the board had recommended a dividend of Rs 3 per equity share.
"At TCS, the management continues to focus on driving sustainable, robust growth and has been marked by strong growth in volumes coupled with increasing traction for our new growth engines like BPOs and consulting," Mr S. Ramadorai, CEO and managing director of the company, was quoted as saying. The company hired 4,698 employees and added 62 new clients in the first quarter.
Referring to large deals in the quarter, the release said that TCS had been selected by a large North American retailer as a strategic partner for developing business critical applications in a deal worth over $50 million, while a telecommunication service provider in West Asia has engaged TCS to provide an end-to-end CRM solution for its wireless network comprising GSM and 3G services in a deal worth US $33 million. Meanwhile, the BPO operations had also found traction, the release said, with a major US-based pharmaceutical company selecting TCS for clinical data management and statistical analysis.
"The Global Consulting Practice continued to have excellent traction with TCS’ existing large customers and generated 95 per cent of its revenues during the quarter with existing customers," it said. The total employee strength of the company was 71,190, with employees coming from 53 different nationalities. Non-Indian nationals formed 7.3 per cent of the total employee base and 25 per cent were women. TCS’ performance follows the equally robust performance in the first quarter by Infosys Technologies Ltd, which last week reported a 49.2 per cent jump in its net profit in the first quarter to Rs 794 crores.
TCS’ net profit jumped 6.07 per cent quarter-on-quarter while its total income recorded an increase of 13.96 quarter-on-quarter. EPS rose from Rs 17.01 in the last quarter of 2005-06 to Rs 18.04 in the first quarter of this fiscal, a company release said, adding that the board had recommended a dividend of Rs 3 per equity share.
"At TCS, the management continues to focus on driving sustainable, robust growth and has been marked by strong growth in volumes coupled with increasing traction for our new growth engines like BPOs and consulting," Mr S. Ramadorai, CEO and managing director of the company, was quoted as saying. The company hired 4,698 employees and added 62 new clients in the first quarter.
Referring to large deals in the quarter, the release said that TCS had been selected by a large North American retailer as a strategic partner for developing business critical applications in a deal worth over $50 million, while a telecommunication service provider in West Asia has engaged TCS to provide an end-to-end CRM solution for its wireless network comprising GSM and 3G services in a deal worth US $33 million. Meanwhile, the BPO operations had also found traction, the release said, with a major US-based pharmaceutical company selecting TCS for clinical data management and statistical analysis.
"The Global Consulting Practice continued to have excellent traction with TCS’ existing large customers and generated 95 per cent of its revenues during the quarter with existing customers," it said. The total employee strength of the company was 71,190, with employees coming from 53 different nationalities. Non-Indian nationals formed 7.3 per cent of the total employee base and 25 per cent were women. TCS’ performance follows the equally robust performance in the first quarter by Infosys Technologies Ltd, which last week reported a 49.2 per cent jump in its net profit in the first quarter to Rs 794 crores.