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TCS Q2 Results FY 14-15: Strong Volumes Drive Steady Growth in Q2Revenue at Rs. 23,816 Crore up 7.7 % Q-o-Q; up 13.5 % Y-o-Y | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Mumbai, Maharashtra, India Net Profit at Rs. 5,288 crore up 4.6 % Q-o-Q; up 13.6% Y-o-Y Strong Volume growth at 6.1% Crosses Milestone of employing 100,000 women professionals
Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions firm reported its consolidated financial results according to IFRS for the quarter ended September 30, 2014.
Financial Highlights for Quarter Ended September 30, 2014
Business Highlights for Quarter Ended September 30, 2014
Commenting on the Q2 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said: “Driven by strong volumes and robust utilization rates, this has been a quarter of steady, consistent performance. Our well-rounded showing has been highlighted by broad-based growth in our key markets, industries and services as we continued to deepen our engagement with customers.”
Mr Chandrasekaran added: “Our customers are focused on using Digital technologies to reimagine their business in multiple dimensions and with our significant investments as well as deep capabilities in these areas, we remain well positioned to act as a catalyst and enable their business innovation across the enterprise.”
Rajesh Gopinathan, Chief Financial Officer, said: “We remain focused on supporting business growth by optimizing our operations and maintaining margins in our desired range. Our cash generation has been strong resulting in high cash conversion ratios and we continue to make investments for the business growth.”
Growth in Q2 was broad-based with all industries growing on a sequential basis. The impact of the integration of newly merged entity in Japan also provided additional growth to units like Manufacturing, Hi-Tech. All core markets like North America, Europe and UK grew smartly. Emerging markets continued to be volatile with India growing while Latin America faltered in Q2. There was balanced growth across IT and other service lines led by Infrastructure Services and Engineering Services.
Select Key Wins
Key Wins in Digital Services and Solutions:
Innovation and Intellectual Property:
Human Resources: The company continued to hire to support business growth. There was a total gross addition of 20,350 people (net addition of 8,326 employees) taking the total employee strength of 313,757 employees on a consolidated basis. The utilization rate (excluding trainees) was at 86.2% and that including trainees was 81.3%. The attrition rate (LTM) was at 12.8% per cent including BPS.
During the quarter, the company crossed the milestone of employing 100,000 women professionals with a gender diversity ratio of 32.9%.
“Diversity of talent remains a key source of strength for the organization and during the quarter, we crossed the milestone of having 100,000 women professionals in our workforce,” said Ajoy Mukherjee, Executive vice president and Global Head, Human Resources. “Our hiring plan for FY15 is on track as we continue to build a talent pipeline in line with business demands.”
Awards and Recognition:
Business Leadership:
o BPO Organisation of the Year o Talent Management o Innovation in Recruitment o Excellence in Training o Best HR Strategy in Line With Business o Operational Excellence & Quality in the BPO Industry
o Best Telecom Software o Best Value Added Services Providers o Best General Social Initiative Award for mKrishi
Partner:
o FY14 Country Partner of the Year o Partner of the Year - Security solutions o Public Sector Partner of the Year
o Global System Integrator Customer Experience (CX) Applications o Specialised Partner of the Year
Sustainability:
Leadership:
N Chandrasekaran:
Unaudited Condensed Consolidated Statements of Comprehensive Income For the three-month periods ended September 30, 2013, June 30, 2014 and September 30, 2014 (In millions of `, except per share data)
Unaudited Condensed Consolidated Statements of Financial Position As of March 31, 2014 and September 30, 2014 (In millions of `)
Media contact: Aditya Singh / Manpreet Singh +91 8130599192 /+91 9810286337
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