TCS closes FY13 with sustained growth momentum; Annual Revenues at $11.6B up 13.7% & 16.2% in constant currency

MUMBAI, India, April 17, 2013 /PRNewswire/ --

Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS), a leading IT services, consulting and business solutions firm reported its consolidated financial results according to IFRS for the quarter and financial year ended March 31, 2013.

Commenting on the 2012-13 performance, N. Chandrasekaran, CEO and MD said: "TCS has delivered a year of strong growth with all markets and industry segments growing in double digits. Our ability to co-create with customers, remain relevant to their business and our investments in digital technologies are delivering tangible value as customers optimize, transform and grow."

Looking ahead to FY14, Mr Chandrasekaran said: "We remain confident that 2013-14 will bring greater opportunities as technology plays an increasing role in reimagining business globally. We continue to identify new growth engines and are investing ahead of the curve in products, platforms and intellectual property that is of great relevance to our customers and their business growth." He added: "As an industry leader, we remain focused on sustaining our momentum."

Rajesh Gopinathan, Chief Financial Officer, said: "Our growth has been well-rounded in 2012-13 and we have endeavored to maintain our profitability despite stiff headwinds and increased volatility through the year. We continue to ensure cost discipline at an operational level while supporting diversified business growth."

For TCS, there was balanced growth across markets and industries during the financial year. All industry verticals grew during FY13.  TCS' full services capabilities continue to be leveraged by customers with service lines like Infrastructure Services, Business Process Outsourcing, Assurance Services and Global Consulting growing at higher than company average.

Key Wins in Q4

• Awarded a large transformational outsourcing deal to drive innovation, operational efficiency and building of new business capabilities for a leading European telecom handset manufacturer
• Selected by a North American retailer as a strategic partner for their ADM and infrastructure support
• Selected as a Strategic partner by a leading European Post & Parcels company in its multi-million dollar enterprise IT transformation program aimed to bring in accelerated new technology adoption while increasing operational efficiency
• Engaged by a large global bank to provide ADM services across multiple domains for their international business
• Selected to provide operations support services to one of USA's leading mortgage servicers and lenders
• TCS BaNCS Core Banking was selected by a well known North American Bank including its subsidiaries
• Awarded a multi-year, multi-million application maintenance & support and infrastructure services contract by a Europe based global semiconductor company
• Awarded multi-million dollar contract by a market leader in diagnostic insights and innovation for its strategic initiative to improve IT effectiveness and efficiency
• Selected by an European world-wide provider of molecular sample and assay technologies as a strategic partner for their full IT outsourcing program
• TCS has entered into an agreement with a State government in North America to customize, implement and support unemployment Insurance that will allow the state to modernize and streamline its processes and business
• Selected by a British multinational insurance company to provide application development, maintenance and assurance services across multiple lines of business

Human Resources:
"We have added, trained and integrated over 69,000 professionals during 2012-13. With business demand continuing to be robust, we have made almost 25,000 fresh offers on engineering campuses for trainees who will join us from the second quarter of this fiscal year." said Ajoy Mukherjee, Executive Vice President, Head, Global Human Resources. "Our efforts to increase retention by engaging with our employees and offering them a progressive career path are paying dividends with IT attrition rates falling further to below ten per cent."  

High utilization rates have been maintained in the fourth quarter with utilization excluding trainees at 82.0 per cent, while utilization including trainees was at 72.2 per cent. The overall attrition rate was lower at 10.57% with IT attrition at a low of 9.40 per cent and BPO attrition falling below 20 per cent threshold to 19.5% on a LTM basis.

The average age of a TCS employee is 28 yrs. while 32.4% of the workforce comprised of women with representation from 118 nationalities.

Innovation and Intellectual Property:
As of March 31, 2013, the company has applied for 1280 patents including 192 applied during the quarter. Till date, the company has been granted 81 patents.

Awards and Recognition
TCS was awarded the Business Standard "Company of the Year" award.  The company won the Institute of Chartered Accountants of India (ICAI) Gold Shield award for excellence in financial reporting. The company was inducted into the Medici Innovation Hall of Fame. The TCS legal team won the 'Best In-house Legal Team of the Year in IT and Telecommunications Industry.'

TCS won several awards at World HRD Congress' annual meet including the 'Recruiting and Staffing Industry Leader of the Year' and 'Best Employer Brand'. TCS won the following five awards under RASBIC including Best Overall Recruiting and Staffing Organization of the year (4^th year in a row); Best use of technology for Recruiting (6^th year in a row); Innovation in Recruitment; Best Employee Referral Program and Recruiting and Staffing Industry leader of the year (6^th year in a row).

TCS also won several HR awards globally: TCS China awarded '2012 Excellence in HR Management'; HR Chile received an Award for HR Best Practices in Training.  TCS was also rated as 'Top Employer' in Belgium for 2013, 'Top Employer' in Netherlands for 2013, TCS Germany and TCS Switzerland were certified as 'Top Employer,' TCS Ecuador HR won two awards and the company also was ranked as the Top Employer in Europe. TCS RMG was conferred the 'Global HR Excellence Award' for 'Continuous Innovation in HR Strategy at Work'.

The company was recognized at the PR News CSR Awards in North America. TCS won BPO Excellence Awards 2013. TCS received the 'Software Partner of the year for EMEA' award from HP. The company also won the 'IT Innovation Award' from NASSCOM-CNBC TV18. Among other awards TCS received included the MAKE award at CII Knowledge Management Summit, TheKnowList Award for 'Outstanding Achievement', and 'Best Performing Consultancy Brand' award in Europe.

About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPO,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India's largest industrial conglomerate, TCS has over 276,000 of the world's best-trained consultants in 44 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.

Follow TCS on Twitter.
Subscribe to an RSS Feed of TCS Press Releases.

SOURCE Tata Consultancy Services