Tata Consultancy Services net profit up 32 percent

MUMBAI - India’s largest software services company Tata Consultancy Services Thursday reported a 32 percent rise in the net profit at Rs.2,169 crore for the quarter ended Sep 30.

The Tata Group company had netted Rs.1,642 crore in the corresponding quarter last fiscal.

“In uncertain economic conditions our results are a milestone on the path to strong demand recovery,” said N. Chandashekharan, managing director.

“Given the growth we have achieved across all industry units, we are very positive about the global demand recovery going forward while being watchful in view of the macro environment,” he added.

The company also experienced its highest ever employee addition in the quarter by recruiting 19,293 people.

All major markets of the company grew in double digit terms with Europe leading the pack. TCS’s North American revenues crossed Rs.100 crore.

In emerging markets, revenues also grew in double digit, led by India and other countries in the Asia-Pacific region.

Offshore revenues were flat at 51 percent.

The company also said it was keeping a watch on fluctuations in various global currencies that it deals in.

“With our major operating currencies continuing to be volatile, we remain to be vigilant on this front,” said S. Mahalingam, chief financial officer.