TCS Q2 profit grows 10 percent

TCS Q2 profit grows 10 percent

Summary: Tata Consultancy Services has turned in another solid quarter of growth, reporting profits of US$668 million on the back of strong sales across all markets, led by the United States.

TOPICS: Outsourcing, India, Tata

Tata Consultancy Services (TCS) boosted profits by 10 percent in its second quarter, over the past year, generating US$668 million net income.

India's biggest outsourcing servics provider by revenue reported its earnings for the quarter, ended June 30, when it recorded sales of US$3.16 billion, up 16 percent than the corresponding quarter in 2012.

Its profit, up from US$663 million in the preceding quarter, beat estimates of 24 analysts surveyed by Thomson Reuters.

TCS CEO N. Chandrasekaran said in a statement the positive results were driven by high volume growth in the past seven quarters. "It has been an all-round performance with strong revenue growth across markets led by the United States.

"Our investments in Europe continue to gain strong traction with customers and helped us deliver industry-leading growth this quarter," Chandrasekaran said.

The company's stock climbed 5 percent, at 10:30 am IST, to 1,745 rupees (US29.27).

Topics: Outsourcing, India, Tata

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