TCS net profit rises 6.1% to Rs 2,301 cr

TCS reported a 6.1 per cent increase in its net profit forthe second quarter, boosted by strong growth in revenues.

India's largest software company said that its net profit inthe quarter ended September 30, 2011, rose to Rs 2,301 crore, a growth of 6.1per cent year-on-year and 4.7 per cent quarter-on-quarter.

During the second quarter, its revenues rose to Rs 11,633 crore,up 25.3 per cent year on year.

The numbers are according to Indian GAAP standards.

Chief Executive Officer and Managing Director, NChandrasekaran said: "We see strong momentum for our full services strategyfrom customers who are looking for agility and growth."

During Q2, TCS witnessed significant growth across all majormarkets with North America clocking 9 per cent, UKgrowing by over 10 and continental Europe upover 9 per cent.

The total employee strength of TCS was 214,770 on aconsolidated basis at the end of Q2. Trainees started joining the company fromthe beginning of the July-September quarter, resulting in the addition of10,192 trainees and 8,125 laterals in India along with 2,032 employeesoverseas.

The utilization rate (excluding trainees) was flat at 83.1%and that including trainees was 76.4%.

Attrition decreased sharply for the company, dropping to13.7 per cent from 14.8 per cent in Q1. Attrition in the IT Services businesswas 12.51 per cent, while BPO attrition was at 24.25 per cent.