Tata Consultancy Services (TCS) today said its digital revenues rose 29 percent to $3 billion in fiscal 2017.
TCS captured significant opportunities in Cloud, Automation, Analytics and IoT with 16.7 percent of total revenues ($3 billion) coming from digital services for FY17. At end of Q4, digital revenues were at 17.9 percent with a q-o-q growth of 7.6 percent.
TCS revenue reached Rs 117,966 crore (+8.6 percent) with a net profit of Rs 26,289 crore (+8.6 percent) in fiscal 2017.
TCS revenues reached Rs 29,642 crore (+4.2 percent) with a net profit of Rs 6,608 crore (+4.2 percent) in Q4 2017.
“We added $1.4 billion in constant currency revenues during the year and increased our digital revenues sharply as we helped our customers leverage the digital economy,” said TCS CEO Rajesh Gopinathan.
The financial year 2016-17 saw broad-based growth across markets with all industry verticals except BFSI, Retail and Hi-Tech growing in double digits. All markets grew in FY17 in CC terms.
Among major markets, Europe grew in double digits (13.6 percent) and crossed $2 billion milestone in revenues followed by North America (7.6 percent) and UK (6.1 percent).
Among growth markets, MEA (14.8 percent) and Latin America (14.1 percent) led the way while India grew at 10.1 percent and APAC at 5.7 percent.
Among service lines, Enterprise Solutions and Consulting crossed the $3 billion and Business Process Services crossed the $2 billion revenue milestones respectively.
Driven by IoT and Industrial Internet solutions, engineering services led the way with 17.4 percent growth while Infrastructure Services grew at 16 percent followed by Assurance services with 12.5 percent growth and BPS with 10.4 percent.
TCS added 78,912 employees, with a net addition of 33,380 employees. In Q4, there was a total gross addition of 20,093 employees and net addition of 8,726.
The technology outsourcing company employed 387,223 professionals from 130 nationalities. This included 34.7 percent of women professionals. The attrition rate for IT services was 10.5 percent (14.7 percent in FY16) while overall it stood at 11.5 percent (15.5 percent in FY16).
“Our focus is on upgrading the “Digital quotient” of TCSers and at the end of FY17 over 200,000 employees have been trained and have gained over 500,000 new digital competencies as well as 1.1 million certifications,” said Ajoy Mukherjee, global head, Human Resources at TCS.
