The country's largest software services exporter Tata Consultancy Services (TCS) today reported an 11.8% jump in consolidated net profit to Rs 3,280.5 crore for the quarter ended June 21, 2012.
In Q4 of the last fiscal, the IT giant had reported a 3.28% increase in its quarter-on-quarter net profit at Rs 2,895 crore.
The company's Q1 operating margin stood at 27.5% vs 27.62% QoQ, while the sales stood at at Rs 14,870 cr vs Rs 13295 cr, up 11.8% QoQ.
The company reported a 38% rise in its fiscal first-quarter profit (y-o-y), beating market expectations, helped by a weaker rupee and increase in demand for outsourcing.
It posted net profit of Rs 3,280 crore for the quarter ended in June, compared with Rs 2,380 crore a year earlier. Revenue rose 37.7% from a year earlier to Rs 14,869 crore.
"We have seen strong, secular growth across all our service lines and industry segments driven by robust volumes from key markets like North America, Europe and UK. We have also absorbed the impact of wage hikes and maintained our profitability in a volatile setting," TCS CEO and MD N Chandrasekaran said.
He said TCS continues to see good demand from global corporations as they successfully navigate an increasingly complex environment. "Our investments in new technologies and platforms are bearing fruit with increasing market traction," Chandrasekaran added.
The company said growth in the reported quarter was very broad-based and growth was seen across all industry segments led by retail, telecom and banking, financial services and insurance.
"The unprecedented volatility among major currencies and the Indian rupee will continue to be a challenge in the short term and we are taking the steps to mitigate any risks arising from this scenario," TCS CFO and Executive Director S Mahalingam said.
TCS added 29 new clients during the quarter. In the April-June 2012 quarter, the company added 13,831 (gross) and 4,962 (net) people, taking its total headcount to 243,545.
Analysts had forecast a net profit of Rs 3,050 crore, according to the latest Thomson Reuters data for the company.
