TCS' Q2 net vaults 32 per cent to Rs2,169 crore as quarterly revenue hits $2 billion mark

Tata Consultancy Services (TCS) has reported a 32 per cent year-on-year rise in its fiscal second quarter consolidated net profit at Rs2,169 crore ($455 million). Net income was up 14 per cent sequentially.

Operating margins were up at a historic high of 28 per cent and the quarterly dividend of Rs2 per share works out to an EPS of 11.6 per cent for the quarter.

Total income for the July-September 2010 quarter rose to Rs9,286.39 crore ($2 billion) from Rs7,435.23 crore in the similar quarter of the previous year. The company also recorded an all-time-high sequential revenue growth of $210 million (11.2 per cent) helped by double-digit growth across all industries.

For the six months ended 30 September 2010, TCS reported a 20 per cent increase in total revenues at Rs17,503.67 crore against Rs14,642.22 crore in the first half of the previous year.

"It has been a quarter of superior performance across the board, driven by volume growth of over 11 per cent. In uncertain economic conditions, our results are a milestone on the path to strong demand recovery. Our teams have displayed the agility to respond to these opportunities across markets and more importantly, execute flawlessly," TCS CEO and MD N Chandrasekaran said.

"Given the growth we have achieved across all industry units, we are very positive about the global demand recovery going forward while being watchful in view of the macro environment," he added.