Strong Business Volumes drive Q1 Performance of TCS

VARINDIA- INDIA'S FRONTLINE IT MAGAZINE

Strong Business Volumes drive Q1 Performance of TCS

Tata Consultancy Services (TCS) has reported its consolidated IFRS (International Financial Reporting Standards) financial results for the first quarter ended June 30, 2011.

CEO & MD, N. Chandrasekaran, said, "Our customer-focussed organization and balanced business model helped us drive growth across all our major customer segments and operating regions in Q1. TCS continues to partner with many customers to help them successfully execute their transformation agendas as well as negotiate a challenging business environment. Though we continue to see steady demand flow for our services, the uncertain global macroeconomic environment demands that we adopt an entrepreneurial approach and remain agile to capture growth opportunities as they emerge."

S. Mahalingam, Chief Financial Officer & Executive Director, said, "By focussing and optimizing operations to support our growth, we have been able to limit the erosion in operating margins by using various levers like utilization and productivity." He added, "We remain watchful but do not expect the current macro issues to impede business decision making in those markets."

Growth in Q1 was balanced and broad-based. Growth across industries was led by hi-tech, retail and BFSI. There was balanced growth across IT and other service lines led by infrastructure, assurance and global consulting services. All markets including USA, Europe grew alongside growth markets like India and Asia Pacific.

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