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Monday, January 14, 2013 (19:02:29)
Tags : India Business News, Tata Consultancy Services, Infosys, Bombay Stock Exchange

TCS third quarter profit rises 27 percent to Rs.3,550 crore

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Mumbai, Jan 14: Tata Consultancy Services, India's largest software services exporter, Monday reported a 26.7 percent rise in net profit to Rs.3,550 crore in the third quarter of the current financial year, beating analysts forecasts.

The company's revenue increased 21.7 percent to Rs.16,070 crore in the quarter ended December 2012, while operating margin expanded 0.56 percent to 27.3 percent.

TCS announced better-than-expected earnings a couple of days after the second largest software exporter Infosys beat markets estimates.

"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," said N. Chandrasekaran, chief executive officer and managing director of TCS.

"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 client in this journey," Chandrasekaran said.

The company said in a statement that there was a broad-based growth in business during the quarter under review.

"Mature markets USA and UK led the growth story. Amongst growth markets Latin America showed double digit growth sequentially, followed by India."

TCS share price rose 2.14 percent to Rs.1,334.30 at the Bombay Stock Exchange today. The results were announced after the market closed. (IANS)

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