The country's largest software services exporter Tata Consultancy Services reported an 18.2% Y-o-Y jump in consolidated net profit to Rs 2,802.77 crore, up 21.8% Q-o-Q, for the quarter ended December 31, 2011.

In the year-ago period, the company had recorded a net profit of Rs 2,301 crore, TCS said in a filing to the Bombay Stock Exchange (BSE).

The company's total income stood at Rs 13,203.99 crore in the reporting quarter, as against Rs 9,663.35 crore in the corresponding year-ago period, translating into a growth of 36.63%.

"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," TCS CEO and MD N Chandrasekaran said.

Among mature markets, Europe led the growth in TCS's business, with an 18.1% sequential jump in revenues, followed by the US (13.3%) and UK (9.5%). Latin America business saw significant expansion, with an 18.6% surge in revenues on a sequential basis, followed by India (14.8%) and the Asia-Pacific region (15.7%).

"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 benefits of the growth, exchange movements and by keeping a strong focus on cost management," TCS CFO S Mahalingam said.

The company added 18,907 (gross) and 11,981 (net) employees during the quarter, taking its total headcount to 2,26,751 employees as of December 31, 2011. The rate of attrition fell to 12.8% during the quarter.

TCS said it had witnessed growth in all its market geographies and across all verticals.

"All our markets have witnessed growth, whether it is US, UK, Europe, India, Asia Pacific or Latin America. All our markets have grown sequentially. We have grown across all verticals, whether it is banking, retail or manufacturing.

"Services have also seen a pretty balanced growth. We have also had a good uptake in enterprise solutions, in addition to some growth in consulting as well," TCS CEO and MD N Chandrasekharan said.

(Source: Business Standard)