TCS has announced its Q3 results. Highlights for Quarter Ended December 31, 2011 are: Operating Profits was recorded at $ 756 million and Growth of 24.7% Y-o-Y. Earnings per Share were estimated at $ 0.29. There was a Gross Addition of employees at 18,907 & Net addition at 11,981. 40 New Clients were claimed to be added.
N Chandrasekaran, CEO & MD said, "Our customer-centric approach in the market and execution rigor on the ground enabled TCS to post a strong financial performance in this quarter. Growth has been broad-based with all markets and all industries contributing substantially." He added: "While technology budgets are still being set for next fiscal, there is little doubt that technology is a key resource to help global businesses optimize their operations and fuel growth in the current economic climate. In this environment TCS is partnering with clients to achieve their objectives using our integrated portfolio of solutions."
S. Mahalingam, Chief Financial Officer said, "We continue to focus on managing our operations optimally in the face of increased external volatility. We have increased our operating margins significantly by taking the benefits of growth, exchange movements and by keeping a strong focus on cost management." He added: "The level of currency and market volatility has only risen in the past three months and we are adapting our strategies accordingly."
It is believed that, Growth in Q3 came across markets. Among mature markets, Europe led the growth story, followed by the US. In the growth markets, Latin America showed significant momentum followed by India and Asia-Pacific. In terms of services, TCS' full services capabilities continue to be leveraged by customers with our new service lines like Enterprise Solutions, Assurance and Infrastructure Services, Global Consulting growing at a significant rate.
