Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multimedia
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

TCS delivers well-rounded performance in Q3

-- Revenue of $2,948 Mn; up 14 % Y-o-Y; 3.3 % Q-o-Q

-- Operating Margin expands 51 basis points to 27.3%

-- Net Income at $652 Mn; up 14.8 % Y-o-Y; 1.4% Q-o-Q

-- Attrition in IT Services dips below 10%

-- Number of $100-million-plus clients increases to 16 from 14


News provided by

Tata Consultancy Services

14 Jan, 2013, 13:56 GMT

Share this article

Share toX

Share this article

Share toX

MUMBAI, India, Jan. 14, 2013 /PRNewswire/ -- Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions firm reported its consolidated financial results according to IFRS for the quarter ended December 31, 2012.

Highlights for Quarter Ended December 31, 2012

  • Operating Income at $804 Mn; a growth of 6.3% y-o-y and 5.3% q-o-q
  • Dividend per share of  ` 3
  • Earnings Per Share at $0.33
  • Gross Addition of 17,145 Employees (Net addition: 9,561)
  • Attrition in IT Services falls to 9.8%; overall attrition including BPO at 11.2%
  • Utilization rate at 81.7% (excluding trainees)

Commenting on the Q3 performance, Chief Executive Officer and Managing Director, N Chandrasekaran said:

"We have had an excellent quarter of well rounded performance and have driven a higher quality of revenue and increased profitability through focus on productivity and innovation. We had good revenue growth, balanced across service-lines, industries and geographies; our agile, customer-centric organization is delivering an increasing number of larger and deeper client relationships." He added: "We believe that clients are going to invest in making their operations 'digital-ready' in 2013 and drive business growth. TCS is well positioned to help our clients in this journey."

S. Mahalingam, Chief Financial Officer and Executive Director, said: "The overall performance has been in line with what we had outlined at the beginning of the year. Our superior execution in this seasonally weak quarter has delivered productivity gains and an expanded operating margin." He added: "Our business model of delivering growth with the desired profitability requires us to invest in the front-end and in new capabilities and we will continue to make those investments."

Operational Performance:

Growth in Q3 was broad-based. Among mature markets, USA and UK led the growth story. Amongst growth markets, Latin America showed double digit growth sequentially, followed by India.  Amongst industries, growth was led by Banking, Financial Services and Insurance (BFSI), Energy & Utilities, Manufacturing & Retail & Distribution. In terms of services, TCS' full services capabilities continue to be leveraged by customers with newer service lines like Enterprise Solutions, Infrastructure Services and Global Consulting driving growth. Asset Leveraged Solutions and Engineering and Industrial Services also showed higher growth.

Key Wins

  • Signed a large service management deal with global financial services major in US, as the sole provider entrusted with their entire application portfolio. TCS' Global Network Delivery Model (GNDM™) will be leveraged to deliver services seamlessly from centers in Mexico, China, Philippines and India.
  • Engaged by one of the leading financial institutions in Asia as a strategic partner for maintaining, supporting and upgrading their core systems and infrastructure.
  • Awarded a multi-million dollar, multi-year contract by a Mexican government department.
  • Selected by a US-based communications company for a multi-year back-office transaction processing deal.
  • Chosen by a global leader in logistics as its assurance service partner in a multi-year, multi-million dollar enterprise transformation initiative.
  • Selected for a multi-year, multi-million dollar deal by a Global CPG company for their enterprise level SAP transformation and global roll-out.
  • Won a multi-year, multi-million dollar deal to be strategic partner to a North American healthcare company to establish and provide support to their shared services initiative.

Innovation and Intellectual Property:

As of December 31, 2012, the company has applied for 1088 patents including 71 applied for during the quarter. Till date, the company has been granted 76 patents.

Human Resources:

At the end of Q3, the total employee strength of the company was 263,637 with a gross addition of 17,145 employees which included 9,831 trainees & 5,072 laterals in India as well as 2,242 employees in international locations. The net addition was 9,561 employees. Attrition rate in IT Services fell further to 9.8% (LTM). Overall attrition, including BPO (22.3% LTM), was 11.2% (LTM).

Non-Indian nationals, representing 112 nationalities, formed 7.6% of the total employee base. Women made up 32% of the workforce. Utilization in Q3 was at 81.7% (excluding trainees) & 72.1% (including trainees).

"We have hired almost 50,000 professionals in the first three quarters of this financial year to support business growth and we continue to forecast a healthy growth in the workforce numbers going forward," said Ajoy Mukherjee, Executive Vice President and Head, Global Human Resources.

Awards and Recognition

TCS was ranked as the most valuable company of 2012 in the Business Today 500. It was also rated among the greenest companies worldwide by the Newsweek magazine. The company was also rated as top ICT Employer of the year in the Netherlands. TCS China was selected among '100 Best Human Resource Management (HRM) Companies' during 2012. TCS was also awarded the best employer in IT industry in 'Recognition of Grooming of Human Capital in Chile' for the year 2012 by DuocUC.

TCS' High Performance Computing (HPC)-driven technology won the 2012 HPC Innovation Excellence Award. The company won the 'Innovation Partner for Enterprise Solutions' award at EMC Momentum 2012. It was also awarded the Thomson Reuters India Innovation Awards 2012 in the Hi-Tech Corporate category. TCS won IT Services Marketing Association (ITSMA) Diamond Award. The Computer Society of India (CSI) adjudged Ministry of External Affairs' Passport Seva Project (PSP) as the most significant e-Governance initiative of the Government of India undertaken during 2011-12. MPOnline won the "Manthan Award" for eGovernance project. TCS received QuEST Forum India Quality Award 2012 for the Top Software Company.

CEO N Chandrasekaran was awarded the "Outstanding Business leader of the year" by CNBC Asia's India Business Leader (IBLA) of the year and the "Asia Business Leader Award of the year" (ABLA) awards 2012. He was also presented with the 'Pathfinder CEO' award by National HRD Network (NHRDN). CFO S Mahalingam won the marquee 'CFO of the Year' award and TCS' Finance team was recognized as the 'Finance Team of the Year' at the CFO Innovation Asia Awards in Singapore.

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata Group, India's largest industrial conglomerate, TCS has over 263,000 of the world's best trained consultants in 42 countries. The Company generated consolidated revenues of US $ 10.17 billion for year ended 31 March, 2012 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com

SOURCE Tata Consultancy Services

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.