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India’s largest outsourcer, Tata Consultancy Services (TCS), reported Monday strong growth in revenue and profit, despite the appreciation of the Indian rupee against the U.S. dollar and higher staff costs in India.
“This is a great performance in challenging times,” S. Ramadorai, TCS’s CEO and managing director, told analysts on Monday.
TCS’s revenue and profit were, however, flat in rupee terms in the quarter to June 30 in comparison to the previous quarter ended March 31, reflecting the appreciation of the rupee against the dollar. Revenue and profit, however, grew 8 percent quarter-on-quarter in dollar terms.
The company added 54 clients and 5,512 employees during the quarter, taking the number of employees to 94,902. Staff attrition rate in the quarter was 11 percent in its IT services business, with the attrition rate higher at 16.7 percent in its business process outsourcing business.
In the quarter to Sept. 30, TCS plans to hire 11,000 more employees.
