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TCS Announces Q1 FY 2016-17 Results - Broad-based Growth, Execution Discipline Drive Strong PerformanceRevenue at Rs 29,305 crore up 3.0 % Q-o-Q; up 14.2 % Y-o-Y | ||
Mumbai, Maharashtra, India
Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions firm reported its consolidated financial results according to IFRS and Ind AS as on June 30, 2016.
Financial Highlights for Quarter Ended June 30, 2016 - Operating Income at Rs. 7,347 crore; Growth of 8.9% Y-o-Y and (0.9) % Q-o-Q - Operating Margin at 25.1 % - Total Dividend per share of Rs. 6.50; Earnings Per Share at Rs. 32.06 - Proposed record date 26/07/16; Payment date 02/08/16
Business Highlights for Quarter Ended June 30, 2016 - Total employees: 362, 079; Gross addition: 17,792 employees - Six clients added in $20M+ band; Four clients added in $50M+ bands
Commenting on the Q1 performance, CEO and MD, N Chandrasekaran said, “Strong execution and accelerating customer adoption of Cloud, Big Data & Analytics has driven broad-based growth across key markets and industries. Our investments in platforms are gaining significant traction as customers look to boost business agility and enhance their time-to-market advantage to gain a competitive edge.”
Mr Chandrasekaran added, “Our rising employee retention rates for three consecutive quarters reflects our focus on engagement and investments we have made to build strong digital talent base. This is paying off with over 165,000 TCSers now trained with significant expertise in new Digital technologies that are rooted in specific domains.”
Rajesh Gopinathan, Chief Financial Officer, said, “This has been a quarter of good financial performance balancing revenue growth, profitability and cash generation. Our disciplined approach to operations have helped us counter strong headwinds in the form of annual salary hikes and promotions as well as global currency and market volatility through the quarter. We continue to invest in people, platforms and products as we look to strengthen our competitive position across key markets.”
* YOY Growth IFRS : 10.7% & Ind AS:9.9%
During Q1, TCS posted the incremental revenues of $155 million – the highest in last seven quarters upto Q1 - driven by strong growth across core markets in North America, UK and Europe. India was the highlight among growth markets.
Adoption of Cloud, Big Data & Analytics is driving demand in Manufacturing, Energy & Utilities and Communications while front-office transformations are helping growth in Telecom and Media sectors. Consumer businesses like Retail, TTH and Life Sciences are also increasingly using analytics to create rich experiences for each customer and reimagine each unique customer’s journey
Select Key Wins in Q1
Key Wins in Digital Services and Solutions in Q1:
Innovation and Intellectual Property: As of June 30, 2016, the company has applied for 2928 patents, including 67 applied during the quarter. Till date the company has been granted 385 patents.
Human Resources: The total employee strength at the end of Q1 was 362,079 on consolidated basis with gross addition of 17,792 (net addition: 8,236 employees). The total attrition rate (LTM) fell to 13.6% including BPS. The percentage of women in TCS rose to an all-time high of 33.8% while the number of nationalities increased to 131.
“We are delighted that for the third quarter in a row, our attrition rates have fallen underscoring our ability to engage with employees and provide long-term careers. We remain focused on building a team of global professionals with diversity and multiple skill-sets and helping TCSers secure additional skills in new technologies. The process of on-boarding this year’s campus trainees has also begun.” said Ajoy Mukherjee, Executive vice president and Global Head, Human Resources.
Awards and Recognition:
Business Leadership:
Partner:
About Tata Consultancy Services Ltd (TCS) Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 362,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $16.5 billion for year ended March 31, 2016 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India.
For more information, visit us at www.tcs.com
Follow TCS on Twitter at @TCS_News.
To view the tables, please click on the link given below Financial Tables
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