Indian IT services company Tata Consultancy Services (TCS) today said all major industry verticals grew in double digits led by in retail, manufacturing, life sciences, healthcare and BFSI during FY 2014.
On the other hand, the Bangalore-based Infosys revenue contribution in fiscal 2014 from banking, finance and insurance (BFSI) and energy, utilities and telecom slipped as compared with fiscal 2013. These two sectors are the largest and fourth largest revenue contributors to Infosys.
TCS annual revenues for FY 2014 rose 29.9 percent to Rs 81,809 crore, while profit grew 37.5 percent to Rs 19,117 crore.
In Q4 FY 2014, TCS revenue increased 31.2 percent to Rs 21,551 crore, while net profit rose 51.5 percent to Rs 5,297 crore.
Infosys earlier said its revenue for the 2014 fiscal grew 11.5 percent to $8,249 million while India’s second-largest IT firm’s net profit rose 1.5 percent to $1,751 million.
N Chandrasekaran, CEO and MD, TCS, said: “We expanded presence in newer markets like Europe during the past 12 months. Our strategic investments including those in Digital Technologies are providing a compelling value proposition as well as helping us anticipate and shape new market trends successfully.”
Europe led growth in major markets, while UK and North America continue to grow in line with the company average.
The total employee strength of TCS stood at 300,464 professionals. TCS trained and integrated 61,200 professionals who joined TCS during 2013-14.
In Q4, the gross employee additions were 18,564 and net employee additions were 9,751 professionals. Of these 7,572 Trainees and 7,401 Laterals recruited in India, while 3,591 employees were hired in international locations.
The overall attrition rate was 11.3 percent with IT attrition at a low of 10.40 per cent and BPS attrition below 15 percent threshold to 14.90 percent on a LTM basis.