Tata Consultancy Services (TCS) on Thursday said it achieved revenue of Rs 29,305 crore (+14.2 percent) in the first quarter of fiscal 2016-17.
Under the International Financial Reporting Standard (IFRS), net income of TCS grew 4.7 percent year-on-year to $940 million from $898 million year ago, while Q1 revenue increased 8.1 percent to $4.4 billion from $4.04 billion last year.
TCS CEO N Chandrasekaran said: “Execution and accelerating customer adoption of Cloud, Big Data & Analytics has driven broad-based growth across key markets and industries. Our investments in platforms are gaining traction as customers look to boost business agility and enhance their time-to-market advantage to gain a competitive edge.”
TCS performance in Q1 fiscal 2016-17
# Revenue at Rs 29,305 crore (+ 14.2%)
# Net income at Rs 6,317 crore (+ 9.9%)
# Attrition rate falls to 13.6% including BPS
# Digital contributes 15.9% revenues in Q1 driven by demand for business agility
During Q1, TCS posted the incremental revenues of $155 million – the highest in last seven quarters upto Q1 – driven by strong growth across core markets in North America, UK and Europe. India was the highlight among growth markets.
TCS, a leading IT service provider from India with global presence, said the adoption of Cloud, Big Data & Analytics is driving demand in manufacturing, energy & utilities and communications while front-office transformations are helping growth in telecom and media sectors. Consumer businesses like retail, TTH and life sciences are increasingly using analytics to create rich experiences for each customer and reimagine each unique customer’s journey, said TCS in a statement.
As of June 30, 2016, TCS has applied for 2,928 patents, including 67 applied during the first quarter of fiscal 2017. TCS has received 385 patents till date.
TCS added 8,236 employees (net addition) or 17,792 (gross addition) in Q1. The employee strength of TCS at the end of Q1 was 362,079. The attrition rate of TCS fell to 13.6 percent including BPS. The percentage of women in TCS rose to 33.8 percent while the number of nationalities increased to 131.
The Mumbai-based software company added four clients in $50-million and six clients in $20-million bands during the quarter under review. The outsourcing major has trained 165,000 in new digital technologies that are rooted in specific domains.