Calculated in rupees, the profit for Q2 stands at Rs. 1,251.60 crore compared to Rs. 1,018.68 crore during the corresponding period last year. While the revenues for the quarter were up 25.4 per cent at Rs. 5,639.73 crore compared to Rs. 4,494.83 crore in the corresponding period last year, the operating profit was at Rs. 1,478.69 crore compared to Rs. 1,254.36 crore during the same period last fiscal.

On the other hand, during the second quarter, TCS added over 12,000 employees and remains on target to meet its annual hiring plans and became the first Indian IT company to cross the one lakh employee-mark. The company’s attrition rate too was steady at 11.5 per cent overall with 10.9 per cent in IT services and 17.9 per cent in BPO.

During the July-September quarter, TCS bagged three large $50 million deals, of which one was from financial services. The country’s largest software exporter said that it was looking at orders worth over a billion dollars from about 20-odd deals spread across the US (6-7), Europe (6) and the rest of the world.

According to the TCS CEO and Managing Director S. Ramadorai, the company has highlighted its leadership position by earning revenues of $2.7 billion in the first half of this financial year by accelerating its growth rate and improving our profitability in the second quarter. And now the company’s strategic investments in new services like consulting, infrastructure and platform-based BPO as well as new markets are helping accelerate growth and diversify our revenue base, thereby strengthening TCS’ full service capability.

Experts, however, view the revenue growth as better than expectations, but say profit margins were not as good. According to them, though these numbers are marginally above expectations, TCS has failed to excite the market with its numbers. Nevertheless, they are hopeful that strong employee guidance and deal flows should see the company through to the next financial year.
 

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