TCS revenue climbs to $4B in 1Q

India's largest IT services provider clocks a 9.3 percent year-on-year growth in revenue for its first quarter results, with net income climbing 6.2 percent to US$898 million.

Tata Consultancy Services (TCS) has clocked a 9.3 percent year-on-year growth in its first quarter revenue to US$4.04 billion, but slightly misses analyst estimates in local currency.

In rupee, its revenue increased 16.1 percent over the previous year to Rs 25,668 crore, against Bloomberg estimates of Rs 25,670 crore.

India's largest IT services provider, TCS also saw its net income for the quarter, ended June 30, 2015, climb 6.2 percent year-on-year to US$898 million.

Its CEO and Managing Director N. Chandrasekaran said the quarter's growth was fueled by demand in the company's key markets such as North America and greater traction for its digital services in key industry verticals, such as financial services, retail, and life sciences. "Our significant investments in IP and platforms, digital capabilities, and our execution track record gives us a firm foundation to capture growth in the current financial year," he added.

Chandrasekaran, though, pointed to energy and utility as well as telecom as challenging market segments, while Japan and Latin America would remain volatile.

Accounting for 52.8 percent of its business, North America revenue grew 11.4 percent year-on-year and 4.4 percent over the previous quarter. Asia-Pacific contributed 9.6 percent, with revenue climbing 58 percent year-on-year and 2.6 percent over the previous quarter.

For the quarter, TCS added 20,302 employees, bringing its overall headcount to 324,935.

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