"It has been a great quarter in terms of volume. We have delivered a volume growth of 6.1 percent, the highest in the past seven quarters. If you look at constant currency growth, it is 4.83 percent and international revenue constant currency growth is 5.8 percent.”
    
"So except for the domestic market, every other market has grown substantially," TCS Managing Director and Chief Executive N Chandrasekaran told reporters in Mumbai. The IT giant said that revenue gains on the rupee fall rose by 160 bps at Rs 760 crore, while impact on the margins has been Rs 160 crore which is an increase of 1.64 percent.
    
During the first quarter of FY14, the company added two USD 100 million clients, he added. "TCS' results were above estimates. The highlight was the 6.1 percent volume growth, a 7-quarter high," said Dipen Shah, head of private client group research, Kotak Securities.
     
While TCS beat the street on all counts, its immediate rival Infosys, which has been disappointing analysts for years, had last week also surprised market with a rise in net
profit and by maintaining its guidance for the fiscal.
    
Infosys' Q1 net rose 4 percent to Rs 2,374 crore. The Bangalore-based software major kept its US dollar revenue guidance at 6-10 percent growth for the fiscal, and raised the rupee guidance upwards to 13-17 percent. Number 3 software exporter Wipro will announce its numbers on July 26.
    
The quarter under review saw TCS operating margin rising 50 bps to 26.9 percent, Chandrasekaran said. He said that the company saw excellent growth from verticals like banking, telecom, retail, manufacturing and life sciences.
    
Ahead of the numbers, TCS scrips shed over 1 percent on the BSE to settle at Rs 1,650.15, while the benchmark Sensex jumped 0.90 percent to a six-week high.

(Agencies)

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