TCS Q1 Net Profit Up By 37% To Rs 3,318 Crore

India’s largest IT firm Tata Consultancy Services (TCS) registered whopping 37.39% net profit to Rs 3,317.68 crore in the Q1 ended June 2012, beating market prediction. Market forecasts Rs 3,275 crore for the Q1 of this fiscal year.

The company’s revenues increased 37.71% to Rs 14,868.71crore against last year’s Rs 10,797.02 crore at the same period.

During this quarter TCS added 29 new clients.

Addressing the media, TCS CEO and MD, N Chandrasekaran said, “We have seen strong, secular growth across all our service lines and industry segments driven by robust volumes from key markets like North America, Europe and UK. We have also absorbed the impact of wage hikes and maintained our profitability in a volatile setting.”

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