TCS Q2 net profit jumps over 49 per cent to Rs3,434 crore

Tata Consultancy Services, India's leading IT services, consulting and business solutions firm, has reported a 49.2 per cent increase in its fiscal second quarter (July-September 2012-13) at Rs3,434 crore.

The company had posted a net profit of Rs2,301 crore in the same quarter of the previous fiscal (2011-12).

TCS said its revenue for the July-September 2012-13 quarter rose 34.3 per cent to Rs15,621 crore compared to Rs11,633.49 crore in the year-ago period, TCS said in a statement.

"We have delivered a strong performance with well-rounded growth across industries and geographies. Our execution excellence is winning recognition and our service offerings remain relevant for customers," chief executive and managing director of TCS, N Chandrasekaran, said.

''TCS has posted a credible margin performance at the operating level and we have also expanded our net margins by managing the ongoing currency volatility,'' S Mahalingam, chief financial officer and executive director, said, adding, ''We will continue to focus on maintaining our strategy of profitable growth to maintain margins to ensure we can invest on an ongoing basis as technology adoption cycles continue to get shorter.''

Mahalingam will retire on 9 February 2013 and Rajesh Gopinathan, VP Business Finance, has been appointed as deputy CFO till February, the company said.