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TCS grows workforce, revenues, profits and customers

Karl Flinders

Indian IT services company Tata Consultancy Services (TCS) has increased its workforce to more than 200,000 while sales and profits both exceeded 20% growth in its latest financial quarter.

For the three months to 30 September the company added in excess of 20,000 workers to its ranks, taking its total workforce to 214,770. A total of 10,192 of the new recruits were trainees, while 2,032 were employed outside TCS's home country, India.

The company reported $2.52bn revenues for its second quarter, which was 26% higher than the same period last year, and profit was 21% higher than last year at $684m.

The company also added 35 new customers to its list of active clients, which now stands at 1,010. It also added two customers with contracts worth over £100,000, giving it a total of 12 in this range.

The company boasted wins for its BaNCS financial services platforms as well as remote management, application and infrastructure management deals.

Last month, Deutsche Bank contracted TCS to transform IT support at its investment banking arm across seven countries. The five-year contract will see TCS provide IT services aligned to the IT Infrastructure Library services model in the US, UK, Germany, Hungary, Philippines, Singapore and India.

Despite the growth, TCS CFO S. Mahalingam said the company will not be complacent. "We continue to make the necessary investments to support our future business growth in different markets as we remain in expansion mode. However, we are also working to optimise our cost structure and keeping a close watch on economic signals," he said. "Given the breadth of our global operations across 45 countries, the recent unprecedented volatility in the foreign currency markets is fresh cause for concern."


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