TATA
CONSULTANCY SERVICES
RESULTS FOR
Q1 FY 2012-13
Tata Consultancy Services (TCS)
reported its consolidated financial results according to Indian GAAP for the
quarter ended June 30, 2012.
Financial Highlights
• Revenues at 14,869 Cr up 37.7% Y-o-Y;
12.1% Q-o-Q
• Net Profit at 3,318 Cr up 37.4%
Y-o-Y; 14.6% Q-o-Q
• Operating Profits at 4,077 Cr; Growth
of 44.3 % Y-o-Y and 10.8% Q-o-Q
• Operating Margins at 27.4%
• Earnings Per Share at 16.92
Business
Highlights for Quarter Ended June 30, 2012
• Gross Addition of 13,831 Employees
• High Utilisation rates maintained at 81.3% (excluding trainees)
• 29 New Clients added
CONSOLIDATED P&L ACCOUNT
SUMMARY (Rupees in Crores)
Particulars (Rs.In Crores)
|
Q1FY13
|
Q1FY12
|
Revenue from Operations
|
14869
|
10797
|
Other Income
|
186
|
294
|
Total Revenue
|
15055
|
11091
|
Total Expenses
|
10798
|
7977
|
Profit Before Tax
|
4257
|
3114
|
Tax Expense
|
899
|
674
|
Profit Bef.Mino.Interest
|
3358
|
2440
|
Minority Interest
|
40
|
26
|
Earnings Per Share(In Rs)
|
16.92
|
12.32
|
Cash&Bank Balance*
|
7765
|
5378
|
*Sch.20 however, shows cash &
Bank for Q1 FY 12 as Rs.5813 Cr.
The segment wise results indicate the
following :
|
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Thus, all segments have performed well.
Equity stands at Rs.295.72 Cr in both quarters. Face Value of each share
is Rs.1.
At the current Market Price of around
Rs.1240, the quarterly EPS of Rs.16.92 (annualized as 16.92 v 4 = 67.68), the
Price Earnings Ratio works out to 18.32. Going forward, with improvements in US
and Europe, the fortunes of TCS can improve much further.
Commenting on the Q1
performance, CEO and MD, N Chandrasekaran said: “We
have seen strong, secular growth across all our service lines and industry
segments driven by robust volumes from key markets like North America, Europe
and UK. We have also absorbed impact of wage hikes and maintained our profitability
in a volatile setting. He added: “Looking ahead, TCS continues to see
good demand from global corporations as they successfully navigate an
increasingly complex environment. Our investments in new technologies and
platforms are bearing fruit with increasing market traction and we are
confident of playing a pivotal role in our customers’ future business.
Key Wins
• Signed a $100 M+ contract with a leading North American retailer as its
transformation partner.
• Awarded a multi-million dollar managed services contract by leading North
American communications solutions provider for their core business processes
• Awarded multi-year contract by large Australian financial institution to
deliver services for information systems, including data warehouse and business
intelligence.
• Won three year multi-million dollar engagement with a major European clearing
house to provide IT Application and Infrastructure services
• Selected by a top global bio-technology firm for a multi-million dollar,
multi- year Drug Safety, Record Management and Regulatory program
• TCS BaNCS Core Banking has been chosen by a leading bank in Turkey for their
international banking operations
• Won a multi-million dollar, multi-year application management engagement on a
managed services model for a leading specialty retailer based in North America
Sample of Engagements won in New
Services
Products
• In an endorsement of its maturity and market readiness, TCS BaNCS Core
Banking product was selected to be implemented on a pre-configured basis by two
financial institutions in China for their core banking renewal initiatives
• TCS BaNCS won the mandate to implement a comprehensive new Health Insurance
solution for a group of mutual insurance companies in Europe that will enable
them to be market competitive, manage their own business rules and comply with
legislation. It will replace all their current applications
Mobility
• Preparing a roadmap to transform business processes for a global
pharmaceutical firm via enterprise mobility framework
• Building innovative suite of tablet apps for a global bank to deploy with
consumers in multiple markets
• Developing apps for a global high-end audio equipment manufacturer to enable
consumers to play cloud-based entertainment content on smart phones
• Deploying TCS tablet app Crew PowerTM for a major airline to empower cabin
attendants to serve customers better
Big Data
• Delivering Next-gen insights using Big Data frameworks for a global airline,
a US-based bank and a global market research firm
• Setting up leading edge distributed data warehouse for a hi-tech firm using
Big Data technologies
Social Media
• Integration of social media data and internal customer data to transform
customer engagement for a major global insurance company
• Analytics platform to analyse social media conversations impacting brands,
consumers
• Customer intelligence platform for a major global airline
Platforms
• TCS F&A platform has been chosen by a major European Airline for its
global operations across 50 countries
• TCS HCM platform has been chosen by a leading bank for standardization of its
HR processes company-wide, improving employee experience and providing employee
insights
• TCS Analytics platform has been chosen by multiple customers
Innovation and
Intellectual Property:
As of June 30, 2012, the company has
applied for 914 patents including 59 applied for during the
quarter. Till date, the company has been granted 72 patents.
Human Resources:
The company continued to hire to
support business growth. With campus trainees joining the company from the
beginning of July-September quarter, lateral hiring accounted for 75% of total
hiring in Q1. There was a total gross addition of 13,831 people (net addition
of 4,962) taking the total employee strength of 243,545 on a consolidated basis
– in 42 countries.
The utilization rate (excluding
trainees) was at 81.3% and that including trainees was 72.3%. The attrition
rate (LTM) was 12.0 per cent. “We have been able to effectively increase our
retention rate in the first quarter to over 88% and increase our utilization
rates further. The on-boarding of current year’s trainees has begun,” said Ajoy
Mukherjee, Executive vice president and Global Head, Human Resources.
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