Tata Consultancy Services (TCS), India’s top software services exporter, reported a 12.3 percent jump in quarterly profit on Wednesday, boosted by a demand for digital services by clients from retail to media businesses.
Mumbai-headquartered TCS reported consolidated net profit of 97.69 billion rupees ($1.32 billion) in the three months to Dec. 31.
The quarter saw clients invest in technology for long-term growth, TCS said in a statement. It said growth was across all services including cloud, cyber security, consulting and services integration, “internet of things” and digital engineering.
TCS said it added 10 new clients spending more than $100 million on software services in the quarter.
The company said its attrition rate for the past 12 months stood at an industry low of 15.1 percent at a time when India’s IT services sector is experiencing a tech talent crunch and high attrition.
Consolidated revenue from operations jumped 16.4 percent to 488.85 billion rupees, TCS said.