TCS net up 2.7 per cent at Rs1,362 crore in Q3 2008-09

Tata Consultancy Services (TCS), India's largest information technology firm, has reported a lower 2.7 per cent year-on-year growth in its third quarter 2008-09 net profit.

The IT major on Thursday announced a net profit of Rs1,352 crore for the third quarter ended 31 December, up 2.68 per cent from the net profit of Rs1,327 crore in the corresponding quarter. TCS had reported Rs1,261.5 crore net profit in the second quarter of fiscal 2008-09.

The company reported an operating profit of Rs1,802 crore for the third quarter of the current fiscal.

Its sales for the third quarter rose to Rs7,277 crore, as against Rs6,953.4 crore in the previous quarter.

TCS said it added 41 new clients during the quarter and hired 11,773 new employees. Its attrition rate in the quarter stood at 11.9 per cent. Its employee utilisation rate increased to 77.9 per cent, from 74.7 per cent in the previous quarter.