TCS bullish on growth, logs 49 pc rise in Q2 Net

TCS' revenues rose 34.3 per cent to Rs 15,621 crore in the reporting quarter compared to Rs 11,633.49 crore in the year-ago period, the company said.

Even though its operating margins dipped by 0.38 per cent to 26.7 per cent as per the Indian GAAP, TCS Chief Executive and Managing Director N Chandrasekaran exuded confidence that it will remain around 27 per cent for this fiscal.

Without divulging a set target, he said the revenue will outpace the projections of 11-14 per cent given by the industry body-Nasscom in this financial year.

"We have delivered a strong performance with well-rounded growth across industries and geographies. Our execution excellence is winning recognition and our service offerings remain relevant for customers," Chandrasekaran said.

Infosys on October 12 lowered its revenue growth guidance for the year ending March 31, 2013 to 17.3 per cent at Rs 39,582 crore, from an earlier projection of 19.7 per cent rise to Rs 40,364 crore, setting off alarm bells.

On its TCS's hiring plans, its human resources head Ajoy Mukherjee said the company will hire 25,000 fresh graduates from campuses next fiscal and added that offers have already been made to 12,000 of them.

Meanwhile, TCS Chief Financial Officer S Mahalingam will retire on February 9, 2013 while Rajesh Gopinathan, VP Business Finance, has been appointed as deputy CFO till February, the company said.

Shares of TCS lost 1.14 per cent to close at Rs 1,290.30 apiece on the BSE. The results were announced after market hours.