TCS reports Revenues to have risen by 24%

Tata Consultancy Services has reported its consolidated financial results according to Indian GAAP for the quarter and financial year ended June 30, 2010. The company's profit and revenue rose by 24 per cent and 14 per cent on the back of a strong growth from markets all across. 

Revenues stood at Rs 8217 crore and profits rose to Rs 1906 crore even as TCS faced pressures on account of currency fluctuation, salary hike and a rise in attrition rate.

Chief Executive Officer and Managing Director, N Chandrasekaran said: "This has been a quarter of complete out performance. Our balanced growth was driven by disciplined execution and strong demand across markets and industry sectors. Our holistic growth across service lines highlights the growing traction among corporations for TCS' full services strategy." He added:  "While we remain alert about changing macro dynamics in many markets, our customer-centric business model is very relevant and helps us participate in the ongoing recovery."

All industry sectors made good contribution to the company's growth. In terms of service lines, there was balanced growth across IT and other new service lines like BPO, Infrastructure Services and Assurance.  In terms of markets, North America and Asia led the momentum for growth, and all other markets grew in constant currency terms.