By Telecom Lead Team: Tata Consultancy Services foresees
growth coming from the telecom vertical in upcoming quarters, as the company’s
revenue from telecom grew by 18 percent to Rs 1,616 crore in Q3 from Rs 1,373
crore in the corresponding quarter last year.
N Chandrashekharan, CEO & MD of Tata Consultancy
Services projected more growth coming from the telecom vertical this quarter.
He feels that the company requires one or two quarters of growth and the
telecom vertical will see growth in upcoming quarters.
The company posted a third-quarter consolidated net profit
of Rs .2,803 crore, 18 percent higher than Rs 2,370 crore in the third-quarter
of last year.
For the quarter, total income from operations increased by
37 percent to Rs 13,204 crore from Rs 9,663 crore for the same period last
year.
“In terms of markets, all our markets have witnessed
growth, whether it is US, UK, Europe, India, Asia Pacific or Latin America. We
have grown across all verticals, whether it is banking, retail or
manufacturing. Services have also seen a pretty balanced growth. We have also
had a good uptake in enterprise solutions, in addition to some growth in
consulting as well,” said N Chandrasekharan, CEO & MD of TCS.
Chandrasekharan said services like infrastructure have done
well consistently. In terms of deals the company has signed 10 large deals
during the quarter – two each from banking and retail, and one each across all
the other sectors like insurance, and life sciences.
In its Q3 results, Europe led the growth story with 18.1
percent sequentially, followed by the U.S. 13.3 percent and U.K. 9.5 percent.
In the growth markets, Latin America showed significant
momentum with 18.6 percent growth sequentially, followed by India 14.8 percent
and Asia-Pacific 15.7 percent.
Last year, Tata Consultancy Services was adjudged the ‘Outsourcing company of the year
2011’ award at the Data News Awards for Excellence ceremony held in
Brussels.
editor@telecomlead.com
