TATA CONSULTANCY SERVICES
 |
| N.CHANDRASEKHARAN, CEO & MD |
RESULTS FOR Q3 FY 2012-13
Indian GAAP
TCS has delivered
a well - rounded performance in Q3 ended
Dec, 2012
Ø Revenue
of Rs.16,070 crore; up 21.7% Y-o-Y; 2.9% Q-o-Q
Ø Operating
Margin expands 56 basis points to 27.3%
Ø Net
Profit at Rs.3,550crore; up 26.7%Y-o-Y;3.4% Q-o-Q
Ø Attrition
in IT Services dips below 10%;
Ø Number
of $100 - million-plus clients increases to 16 from 14
Highlights
for Quarter Ended December 31,2012
Ø Operating
Margin at 27.3% , an expansion of 56 bps;
Ø Operating
Profit at Rs.4,383 crore; a growth of 13. 6% y-o-y and5.0% q-o-q
Ø Dividend
per share of`Rs.3
Ø Earnings
Per Share at`Rs.18.10
Ø Gross
Addition of17,145 Employees(Net addition:9,561)
Ø Attrition
in IT Services falls to 9.8%; overall attrition including BPO at 11.2%
Ø Utilisation
rate at 81.7% (excluding trainees)
|
TCS-CONS
|
Q3 FY13
|
Q2 FY13
|
Q3 FY12
|
|
INCOME
|
|||
|
a) IT &
Consultancy Services
|
15,663.01
|
15188,05
|
12,723
|
|
b) Manufacturing,ETC
|
406.92
|
432.75
|
480.97
|
|
Total Income
|
16069.93
|
15620.75
|
13203.99
|
|
Total Expenditure
|
11686.86
|
11448.22
|
9345.01
|
|
Interest
|
7.90
|
15.11
|
4.86
|
|
Other income
(expense), net
|
22119.00
|
328.33
|
-87.28
|
|
Profit Before Taxes
|
4596.36
|
4485.75
|
3766.84
|
|
Minority Interest
|
41.00
|
35.31
|
33.26
|
|
Net Profit
|
3549.62
|
3434.37
|
2802.77
|
|
EQUITY
|
195.72
|
||
|
EPS
|
18.10
|
17.51
|
14.30
|
|
DIV(Rs.)
|
3.00
|
3.00
|
3.00
|
|
Publicsh%
|
26.04
|
26.04
|
25.92
|
Operational Performance:
Growth
in Q3 was broad-based. Among mature markets, USA and UK led the growth story.
Amongst growth markets, Latin America showed double digit growth sequentially, followed
by India. Amongst industries, growth was led by Banking, Financial Services and
Insurance (BFSI), energy & Utilities, Manufacturing & Retail & Distribution.
In terms of services, TCS’ full services capabilities continue to be leveraged
by customers with newer service lines like Enterprise Solutions, Infrastructure
services and global Consulting driving growth. Asset Leveraged Solutions and
Engineering and Industrial services also showed higher growth.
Key Wins :
Ø Signed
a large service management deal with global financial services major in US, as
the sole provider entrusted with their entire application portfolio. TCS ’Global
Network Delivery Model(GNDM™) will be leveraged to deliver services seamlessly from
centers in Mexico, China, Philippines and India
Ø Engaged
by one of the leading financial institutions in Asia as a strategic partner for
maintaining, supporting and upgrading their core systems and infrastructure.
Ø Awarded
a multi-million dollar, multi-year contract by a Mexican government department.
Ø Selected
by a US-based communications company for a multi-year back-office transaction processing
deal.
Ø Chosen
by a global leader in logistics as its assurance service partner in a multi-year,
multi-million dollar enterprise transformation initiative.
Ø Selected
for a multi-year, multi-million dollar deal by a Global CPG company for their enterprise
level SAP transformation and global roll-out.
Ø Won
a multi-year, multi-million dollar deal
to be strategic partner to a North American health care company to establish
and provide support to their shared services initiative.
Innovation and Intellectual
Property:
As
of December 31, 2012, the company has applied for 1088 patents including 71
applied for during the quarter. Till date, the company has been granted 76
patents.
Human Resources:
At
the end of Q3, the total employee strength of the company was 263,637 with a
gross addition of 17,145 employees which included 9,831 trainees & 5,072
laterals in India as well as 2,242 employees in international locations. The
net addition was 9,561 employees.
Attrition rate in
IT Services fell further to 9.8% (LTM). Over all attrition, including BPO
(22.3% LTM), was 11.2% (LTM).
Non-Indian
nationals, representing 112 nationalities, formed 7.6% of the total employee base.
Women made up 32%of the workforce. Utilization in Q3 was at 81.7% (excluding
trainees) & 72.1 % (including trainees).
“We
have hired almost 50,000 professionals in the first three quarters of this
financial year to support business growth and we continue o forecast a healthy
growth in the workforce numbers going forward,” said Ajoy Mukherjee, Executive vice
president and Head, Global Human Resources.
Revenue:
Ø INR
Revenue of Rs.160,699 Mn,growth of 2.9% QoQ and 21.7% YoY
Ø USD
Revenue of $2,948 Mn, growth of 3.3% QoQ and 14.0% YoY
Ø Volume
growth of 1.25% QoQ; Constant currency realization up 1.3% QoQ
Profit:
Ø Operating
Income at Rs.43,809 Mn, EBIT Margin of 27.3% up 51 bps QoQ
Ø Net
Income at Rs.35,518 Mn , Net Margin of 22.1%
Demand:
Ø 31 new
clients added during the quarter; Active clients: 1051
Ø Strong
client additions in the $20 Mn plus category and above
Ø 7 large
deals signed across verticals
People:
Ø Gross
addition of 17,145 associates, closing headcount: 2,63,637
Ø Utilization
at 81.7% (ex-trainees) and 72.1% (including trainees)
Ø LTM
Attrition (IT Services) at 9.8%
|
Clients Contribution *
|
||
|
Revenue
%
|
Q3 FY13
|
Q2 FY13
|
|
Top
1
|
6.3
|
6.5
|
|
Top
5
|
18
|
18.4
|
|
Top
10
|
25.2
|
25.6
|
|
US$
1 mln Clients
|
551
|
538
|
|
US$
5 mln Clients
|
273
|
269
|
|
US$
10 mln Clients
|
185
|
182
|
|
US$
20 mln Clients
|
114
|
108
|
|
US$
50 mln Clients
|
47
|
45
|
|
US$
100 mln Clients
|
16
|
14
|
|
Last
Twelve Months
|
||
TCS
has over 2 63,000 of the world's best trained consultants in 42 countries. The
Company generated consolidated revenues of US $ 10.17 billion for year ended 31
March, 2012 .
Commenting on the Q3performance, Chief Executive
Officer and Managing Director, N Chandrasekaran said:“We
have had an excellent quarter of well rounded performance and have driven a
higher quality of revenue and increased profitability through focus on
productivity and innovation. We had good revenue growth, balanced across service-lines,
industries and Geographies; our agile, customer-centric organization is
delivering an increasing number of larger and deeper client relationships.” He
added: “We believe that clients are going to invest in making their operations
‘digital-ready’ in 2013 and drive business growth. TCS is well positioned to
help our clients in this journey.”
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