TCS Q2 profit climbs 8.4% to Rs 60.85 bn

The company’s revenues for the most recent quarter climbed more than 14 percent to 271.65 billion rupees, up from 238.16 billion rupees a year ago.

Nation’s largest application providers company Tata Consultancy Services (TCS) has reported a 16 per cent surge in net revenue to Rs 6,084.66 crore or Rs 60.84 million for the quarter ended September 30. This Mumbai based software company had reported a profit of Rs. 5244.28 in the last corresponding fiscal year – this was mentioned during the regulatory filing.

Analysts expect Infosys to maintain its FY16 guidance of 10-12% in constant currency i.e. after neutralising impact of currency fluctuations (11.5-13.5% in rupee terms) and 7.2-9.2% in dollar terms (that was increased in previous quarter from 6.2-8.2%). Revenues grew 5.8 per cent q-o-q to Rs 27,165 crore, and 14.1 per cent on a year-on-year basis.

Growth was broad-based in Q2 with all industries growing on a sequential basis led by BFS, Retail, Life Sciences and Travel & Hospitality. He also mentioned that the broad performance of the company has been led by the strong sequential growth in the BFS.

The business said primary areas like the United Kingdom, Europe and North America became smartly together with emerging areas like MEA, India and Latin America. “Our focus on profitability have increased our margins sequentially and generated strong cash flows while investing for future growth”.

The company said there was a total gross addition of 25,186 people (net addition of 10,685 employees) taking the total employee strength of 3,35,620 on consolidated basis. “In Q3 and Q4 the attrition is expected to come down further”, executive VP and global head Ajoy Mukherjee said.

Shares of TCS closed at Rs 2,597.40 a piece, marginally up 0.19 percent on the Bombay Stock Exchange before the earnings announcement on Tuesday.