Country's largest IT services exporter TCS on Tuesday met market expectations with an over 16 per cent rise in net profit at Rs 6,084.66 crore for the quarter to September, backed by strong performance of its digital platform and recovery in Latin America and the home market. Tata Consultancy Services' (TCS) order book grew 30 <g data-gr-id="19">per cent</g> in the quarter, the highest ever for the company, giving the indication that things are looking good, managing director & chief executive N Chandrasekaran told reporters here this evening.
"We have delivered accelerated growth in constant currency terms for Q2. Driven by great execution on the ground, our broad-based performance has been led by strong sequential growth in BFS, retail and life sciences verticals with Britain and North America leading the markets," he said. "Our digital platform has been very high. Digital has seen tremendous traction. Our revenues from the digital platform <g data-gr-id="22">has</g> jumped to 13.3 per cent from 12.5 per cent quarter-on-quarter," Chandrasekaran, who was recently given another five-year term, added.
Observing that its attrition rate, which stood at 16.2 per cent in Q2, has stabilised compared to previous quarter, the company said it is working on steps to further bring it down in third and fourth quarter of the fiscal. "Attrition in absolute number has come down compared to last year. I am quite hopeful that all the initiative we are taking to control attrition will pay out. In Q3 and <g data-gr-id="25">Q4</g> the attrition is expected to come down further," executive VP and global head Ajoy Mukherjee said.