Strong volumes and robust utilisation rates saw Tata Consultancy Services (TCS) report a 13.2 per cent growth in net profit (consolidated) at Rs.5,244 crore for the second quarter of 2014-15. The company's revenue for the quarter was up 13.5 per cent at Rs.23,816 crore. The operating profit of the company at Rs.6,394.2 crore was up a percentage point while the operating margin declined 333 basis points to 26.80 per cent. "This has been a quarter of steady and consistent performance," TCS CEO and Managing Director N. Chandrasekaran said at a press conference here on Thursday. "Our well-rounded showing has been highlighted by broad-based growth in our key markets, industries and services as we continued to deepen our engagement with customers." He said the integration of Mitsubishi in Japan also provided additional growth to units such as manufacturing and hi-tech. While all core markets grew, Latin America faltered during the quarter. The de-growth in Latin America was not seasonal, and it was a 'negative surprise.' "However, India has seen good growth and, in fact, the double-digit growth on a sequential basis. This is on the back of pick-up in client spending and government initiatives," the TCS CEO said adding that while… Read full this story
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