TCS posts 6 per cent rise in consol net profit at Rs2,301 crore

Tata Consultancy Services (TCS), India's largest software services exporter, posted a 6 per cent rise in consolidated net profit at Rs 2,301 crore for the second quarter ended 30 September 2011, a tad below street expectations.

As per Indian accounting norms, the Tata group firm had posted a consolidated net profit of Rs2,169 crore in the same period last fiscal, it said in a release.

It's consolidated revenues rose 25.27 per cent to Rs11,633 crore for the quarter under review from Rs9,286 crore.

''Our domain-rich solutions and disciplined execution helped us capture business demand across major markets and deliver stellar growth in international revenues. We see strong momentum for our full services strategy from customers who are looking for agility and growth,'' said chief executive officer and managing director N Chandrasekaran.

''We have created a nimble organisation on the ground to stay close and stay relevant to our customers as there are ambiguities in the external environment in the short-term,'' he added.

TCS added 35 new clients in the fiscal second quarter that ended on 30 September and its chief executive said the company was chasing 10 large deals currently.