Tata Consultancy Services (TCS) has reported its consolidated financial results, according to IFRS for the quarter and financial year ended March 31, 2013.
N. Chandrasekaran, CEO & MD, said, “TCS has delivered a year of strong growth with all markets and industry segments growing in double digits. Our ability to co-create with customers, remain relevant to their business and our investments in digital technologies are delivering tangible value as customers optimize, transform and grow.”
Rajesh Gopinathan, CFO, TCS, said, “Our growth has been well-rounded in 2012-13 and we have endeavoured to maintain our profitability despite stiff headwinds and increased volatility through the year. We continue to ensure cost discipline at an operational level while supporting diversified business growth.”
The main features of these FY results of the fourth quarter shows that TCS has received revenues at $3.04 billion which is up by 3.1% Q-o-Q. The net income of the company is $663 million up by 1.8% Q-o-Q. The company has achieved a gross addition of 20,098 professionals.
High utilization rates have been maintained in the fourth quarter with utilization excluding trainees at 82.0 per cent, while utilization including trainees was at 72.2 per cent. The overall attrition rate was lower at 10.57% with IT attrition at a low of 9.40 per cent.
TCS has entered into an agreement with a State Government in North America to customize, implement and support unemployment Insurance. TCS has also been awarded the Business Standard “Company of the Year” award as per the Q4 results.
