TCS third quarter net profit beats the Street at Rs 3,552 cr

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fe Bureau: Mumbai, Jan 15 2013, 23:51 IST

UK and Latin America contributed 2.5%, 5.2% and 10.9% respectively to the company's growth. Telecom was down 2.6% this quarter whereas BFSI and manufacturing sectors led to robust growth. “The equipment manufacturers and vendors continue to be under pressure and hence, volumes in this sector have either been muted or volatile,” S Mahalingam, chief financial officer and executive director said.

Despite a dip in its revenues from the Continental Europe, the company is confident that growth from the region would bounce back. “As far as Europe is concerned, calendar year 2013 will be much better than 2012,” Chandrasekaran said, asserting pricing was stable and other regions like the US and UK continued to contribute to growth.

The number of its $100-million plus clients increased to 16 from 14. TCS added a net 9,561 people during the three months to December, taking the firm’s headcount to 2,63,637.

The firm had signed seven large deals during the quarter and its clients in the $100 million increased to 16 during the quarter. TCS also saw a pricing uptick of 1.5% this year. The company has added 31 new clients during the quarter taking its total active client count to 1,051.

Attrition at the IT major came in at its lowest 11.2%. The TCS board has also declared an interim dividend of Rs 3 per equity share of Re 1 each of the company.

Shares of TCS closed 2.14% up at Rs 1,334.3 on the Bombay Stock Exchange on Monday. The results, though were announced after market hours.

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