TCS

As widely expected, TCS beat most of the expectations with a set of good numbers for Q3FY13.  It posted a net profit at Rs.3,551 crore, up 23% YoY. Its revenue rose 22% at Rs.16070. Though QoQ, the numbers may look flattish, the fact that it has truck new deals which have helped it post a better performance is extremely assuring. And those who were worried about the sustainability of its profit margins, were once again proved wrong when its operating margin expanded 56 bps at 27.3%. Operating Profit was at Rs.4,383 crore, up 14%. TCS net added 9,561 employees, taking the total tally to 2,63,637 employees. It added 31 new clients in current Q3. 7 large deals signed across verticals. Its attrition in IT services has now fallen to 9.8% and overall attrition including BPO is at 11.2%.

In terms of geographical growth, North America has the largest share of the pie at 52.6% QoQ growth of 2.5%), followed by UK at 17.5% (QoQ growth of 5.2%), India grew 7.6% (QoQ growth of 4.8%). The biggest growth was in Latin America at 3.6% (QoQ growth of 10.9%). Europe fell 2.4%. The company does not give any guidance but the management stated in a TV interview that it expects pricing to remain stable in 2013 and expects volume growth as clients seemed to now have become more decisive about their IT budgets. It plans to hire 60,000 new employees over the next few months.