TCS revenues surge in Q2 with Volume Growth at 7.3%

Tata Consultancy Services has reported its consolidated financial results, according to IFRS for the quarter ended September 30, 2013. The company has achieved revenue of Rs.20,977 crore which is up 16.6 % Q-o-Q, up 34.3 % Y-o-Y. The results have shown Operating Profit at Rs.6,330 crore, showing growth of 51.5 % Y-o-Y and 30.2% Q-o-Q
 
The key business highlights for the quarter ended September30, 2013 have shown the addition of gross employee addition of 17, 362 and the total headcount has reached 285,250.

N. Chandrasekaran, Chief Executive Officer & Managing Director, TCS, said, It has been another great quarter. We have demonstrated all-round strong growth across markets and industries, highlighted by efficient and rigorous execution. Our ongoing investments in the industry-led solutions and our efforts to provide insights and articulate the relevance of the digital revolution to business is helping us gain mindshare with customers and differentiate the TCS brand in the market.

The company continued to hire to support business growth. There was a total gross addition of 17,362 people (net addition of 7,664 employees), taking the total employee strength of 285,250 employees on a consolidated basis. The utilization rate (excluding trainees) was at 83.4% and that including trainees was 75%. The attrition rate (LTM) was stable at 10.9 per cent, including BPO. The attrition rate in IT was at 9.9 per cent, while BPO attrition was higher at 16.3 per cent.