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TCS Worldwide
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    TCS is here to make a difference through technology.

    Leading the way in innovation for over 55 years, we build greater futures for businesses across multiple industries and 55 countries.

    Discover all solutions
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    • Overview Press tab for submenu items

      We deliver excellence and create value for customers and communities.

      Our expert, committed team put our shared values into action – every day. With the best talent and the latest technology we help customers turn complexity into opportunities and create meaningful change.

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      Join us
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      05 May 2025 Jazeera Airways Partners with Tata Consultancy Services to Power AI-led Transformation, Reimagine Digital Customer Experience
      02 May 2025 IBM, Tata Consultancy Services and Government of Andhra Pradesh to Deploy India’s Largest Quantum Computer in the Country’s First Quantum Valley Tech Park
      30 Apr 2025 TCS Collaborates with SAP to Enable Enterprise-wide GenAI and Cloud Adoption For its Customer
      View all
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      02 May 2025 TCS Ranked Denmark’s #1 IT Service Provider for Customer Satisfaction in 2025
      23 Apr 2025 TCS Partners with Google Cloud on Agent-to-Agent Interoperability Protocol to Drive Future-Ready Enterprises
      11 Apr 2025 TCS Partners with Google Cloud to Accelerate AI-led Transformation in the Retail Sector
      View all
    • Analyst recognition

      Recent recognitions

      22 Apr 2025 TCS Ranked #6 Amongst Banking Technology Providers and Recognized as a Regional Leader across all Geographies by Everest Group
      17 Apr 2025 TCS BaNCS Named a Leader Among Wealth Management Products by Everest Group
      01 Apr 2025 TCS Positioned as a Leader in Worldwide Discrete Manufacturing Product Lifecycle Management Strategic Consulting Services and Systems Integration by IDC MarketScape
      View all
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      04 Jun 2025 Veeva R&D and Quality Summit: Developing Better Health Outcomes
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    What we do
    • Overview Press tab for submenu items

      TCS is here to make a difference through technology.

      Leading the way in innovation for over 55 years, we build greater futures for businesses across multiple industries and 55 countries.

      Discover all solutions
    • Industries
      • Banking
      • Capital Markets
      • Consumer Packaged Goods and Distribution
      • Communications, Media, and Information Services
      • Education
      • Energy, Resources, and Utilities
      • Healthcare
      • High Tech
      • Insurance
      • Life Sciences
      • Manufacturing
      • Public Services
      • Retail
      • Travel and Logistics
    • Services
      • Artificial Intelligence
      • Cloud
      • Cognitive Business Operations
      • Consulting
      • Cybersecurity
      • Data and Analytics
      • Enterprise Solutions
      • IoT and Digital Engineering
      • Network Solutions and Services
      • TCS Interactive
      • Sustainability Services
    • Products and Platforms
      • TCS ADD™
      • TCS BANCS™
      • TCS BFSI Platforms
      • TCS CHROMA™
      • TCS Customer Intelligence & Insights™
      • TCS ERP on Cloud
      • ignio™
      • TCS iON™
      • TCS HOBS™
      • TCS Intelligent Urban Exchange™
      • TCS OmniStore™
      • TCS Optumera™
      • TCS Tap™
      • Quartz™ – The Smart Ledgers™
      • TCS TwinX™
      • TCS MasterCraft™
      • Jile™
      • TCS DigiBOLT™
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    • TCS ADD™
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    • TCS CHROMA™
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    • ignio™
    • TCS iON™
    • TCS HOBS™
    • TCS Intelligent Urban Exchange™
    • TCS OmniStore™
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  • Who we are
    • Overview Press tab for submenu items

      We deliver excellence and create value for customers and communities.

      Our expert, committed team put our shared values into action – every day. With the best talent and the latest technology we help customers turn complexity into opportunities and create meaningful change.

      Discover the difference
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      Want to be a global change-maker? Join our team.

      At TCS, we believe exceptional work begins with hiring, celebrating and nurturing the best people — from all walks of life.

      Join us
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      Discover more
    • Press releases

      Recent Press releases

      05 May 2025 Jazeera Airways Partners with Tata Consultancy Services to Power AI-led Transformation, Reimagine Digital Customer Experience
      02 May 2025 IBM, Tata Consultancy Services and Government of Andhra Pradesh to Deploy India’s Largest Quantum Computer in the Country’s First Quantum Valley Tech Park
      30 Apr 2025 TCS Collaborates with SAP to Enable Enterprise-wide GenAI and Cloud Adoption For its Customer
      View all
    • News alerts

      Recent News

      02 May 2025 TCS Ranked Denmark’s #1 IT Service Provider for Customer Satisfaction in 2025
      23 Apr 2025 TCS Partners with Google Cloud on Agent-to-Agent Interoperability Protocol to Drive Future-Ready Enterprises
      11 Apr 2025 TCS Partners with Google Cloud to Accelerate AI-led Transformation in the Retail Sector
      View all
    • Analyst recognition

      Recent recognitions

      22 Apr 2025 TCS Ranked #6 Amongst Banking Technology Providers and Recognized as a Regional Leader across all Geographies by Everest Group
      17 Apr 2025 TCS BaNCS Named a Leader Among Wealth Management Products by Everest Group
      01 Apr 2025 TCS Positioned as a Leader in Worldwide Discrete Manufacturing Product Lifecycle Management Strategic Consulting Services and Systems Integration by IDC MarketScape
      View all
    • Events

      Upcoming events

      11 Jun 2025 TCS and PTC Present the North America Leadership Forum 2025
      04 Jun 2025 Veeva R&D and Quality Summit: Developing Better Health Outcomes
      19 May 2025 TCS at Sapphire 2025
      View all
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      Tata Consultancy Services Limited
      NSE:TCS
      INR
      Discover more FY24-25 debrief
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    TCS Worldwide
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    • PRESS RELEASE

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    TCS delivers steady performance in Q3

     

    Revenues at $4.15 billion; up 5.5% Y-o-Y

    • International business CC revenue growth of 1.1% Q-o-Q
    • Digital business growth at 4% Q-o-Q; Contributes 13.7% of revenues
    • Net Income at $926M up 6% Y-o-Y

    MUMBAI, January 12, 2016: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading IT services, consulting and business solutions firm reported its consolidated financial results according to IFRS US Dollars for the quarter ended December 31, 2015.

    • Business Highlights for Quarter Ended December 31, 2015
    • Gross employee addition 22,118
    • Total headcount: 344,691
    • Utilization: 84.9% (excluding trainees) & 80.9% (including trainees)
    • No of $100M+ clients increases by 1 to 34; No of $20M+ clients increase by 2 to 173

    Commenting on the Q3 performance, N Chandrasekaran, Chief Executive Officer and Managing Director, said: “All our industry segments have exhibited growth in a traditionally weak quarter additionally accentuated by the impact of the Chennai floods. Our international business has grown smartly in CC terms with North America and Europe leading the way among major markets and Latin America among growth markets.”

    Chandrasekaran added: “Digital will remain the core focus for enterprise IT in 2016 as our customers respond to competition in a global economy driven by real-time insights. With 13.7% of our revenues coming from Digital business and this segment growing at a higher sequential rate, TCS is playing an impactful role in partnership with customers.

    Rajesh Gopinathan, Chief Financial Officer, said: “In a challenging quarter with significant cross currency and other headwinds, we have operated with rigor and discipline to deliver credible margin performance and generated excellent cash flows”.

    Growth in Q3 was holistic with all industry segments showing sequential growth with Life Sciences & Healthcare, Manufacturing and Hi-Tech leading the way. Europe and North America led growth in major markets while Latin America and Asia Pacific led the growth markets. Among service lines, Infrastructure Services and BPS were the leaders.

    Select Key Wins

    • Selected by a large Global Bank for a multi-year Application Management and Service  Delivery transformation to optimize operations
    • Chosen as a strategic partner by a leading European manufacturer for Application Support across Sales, HR, Finance & Operations applications in North America and Latin America
    • Selected by a leading UK based Grocery Retailer to transform Quality Assurance and Environment Management services
    • Selected by a large European Airline as their Infrastructure transformation partner to standardize and improve End User Services and Operations across multiple lines of business
    • Selected by a North America's leading digital media and advertising company as their strategic partner to accelerate growth in online ad operations, search campaign management and customer on-boarding
    • Awarded by One of Europe's largest Utilities a multi-year engagement for delivering enterprise BI & analytics services leveraging Big data and mobility
    • Entered into a strategic partnership with a large North American mutual life insurance company to provide end to end Application Management Services
    • Awarded a large end-to-end full services deal by a leading Latin American Bank to transform their IT and Business operations
    • Chosen by a leading Latin American Bank to completely transform their Data Center footprint to enable standardization of operations and align their business growth strategy in the region

    Key Wins in Digital Services and Solutions

    • Engaged by an automobile manufacturer for their digital journey to transform customer experience in its connected cars
    • Selected by a leading insurance company to transform the customer and agent experience by creating a compelling multi-channel solution
    • Engaged by a leading European Life sciences company to transform its product safety monitoring operations by leveraging data driven analytical insights from social channels
    • TCS has been selected by a major automobile manufacturer to deliver a unique engagement in robotics for its line of hybrid vehicles to enhance customer comfort
    • TCS has been engaged by a global media and information company to provide design services for social gamification of its customer experience to drive adoption of its products
    • Three global customers have selected TCS to deploy its TCS Active Archive™ product to enable fast on-demand access to archived enterprise data
    • Engaged by a large Indian bank to reimagine the user experience journey for digital banking

    TCS BaNCS

    • A leading Asian Bank selected TCS BaNCS core banking platform for operations in Americas
    • Two large South African banks selected TCS BaNCS Insurance platform for their Life and General Insurance business
    • A global wealth management institution selected TCS BaNCS platform for developing Digital offerings
    • A large European market infrastructure institution has selected TCS BaNCS  to replace their clearing and settlement system

    ignioTM: : TCS’ neural automation platform, ignioTM is witnessing increasing adoption with customers:

    • A leading North American energy provider selected ignioTM to create a foundation for technology transformation
    • A global pharmaceutical major in North America chose ignioTM to improve efficiency of Data Center operations
    • A global automotive major is deploying ignioTM as a layer of intelligence over their entire IT landscape to create end-to-end visibility and automate operations
    • A large global airlines group chose ignioTM to help optimize their overall IT service quality

    Innovation and Intellectual Property:

    As of December 31, 2015, the company has applied for 2,536 patents, including 90 applied during the quarter. Till date the company has been granted 302 patents.

    Human Resources:

    The company continued to hire to support business growth. There was a total gross addition of 22,118 people (net addition of 9,071 employees) taking the total employee strength to 344,691 employees on a consolidated basis. The attrition rate (LTM) fell to 15.9%.

    “Our efforts to increase employee retention is working with quarterly attrition rates falling in Q3. Our hiring continues to support strong business growth and we continue to invest in building digital skills, with over 70,000 TCSers undergoing training in new technologies this year,” said Ajoy Mukherjee, Executive vice president and Global Head, Human Resources.

    Awards and Recognition:
    Business Leadership:

    • Asia IP Elite 2015 award from Intellectual Asset Management (IAM)
    • CII Industrial Intellectual Property Award 2015
    • The Aegis Graham Bell Awards 2015 in the 'mHealth' category
    • TCS China ranked among Top 10 Global Service Provider 2015
    • TCS Hungary receives the University Cooperation Excellence Award

    Partner:

    • Oracle Excellence Award for Specialized Partner of the Year:
      • Asia Pacific in Telecommunications Industry
      • North America and Asia-Pacific in Engineered Systems Solution
    • FY16 GSI Partner of the Year Award at Dell World 2015

    Sustainability:
    Dow Jones Sustainability Index 2015

    Leadership:
    N Chandrasekaran:

    • Qimpro Platinum Standard Award 2015 (Business)
    • Business Today’s Best CEO  2015 (IT & ITEs) 

                                 

    Unaudited Condensed Consolidated Statements of Comprehensive Income
    For the three-month periods ended December 31, 2014, September 30, 2015 and December 31, 2015
    (In millions of USD, except per share data)

     

     

    Three-month period ended December

    31, 2014

    Three-month period ended September  30, 2015

    Three-month period ended December

    31, 2015

     Revenue

    3,931

    4,156

    4,145

     Cost of revenue

    2,168

    2,318

    2,305

     Gross margin

    1,763

    1,838

    1,840

     SG & A expenses

    700

    713

    738

     Operating income

    1,063

    1,125

    1,102

     Other income (expense), net

    101

    103

    106

     Income before income taxes

    1,164

    1,228

    1,208

     Income taxes

    280

    296

    280

     Income after income taxes

    884

    932

    928

     Minority interest

    11

    6

    2

     Net income

    873

    926

    926

     Earnings per share in USD

    0.45

    0.47

    0.47

     

    Unaudited Condensed Consolidated Statements of Financial Position
    As of March 31, 2015 and December 31, 2015
    (In millions of USD)

     

     

    As of March 31, 2015

    As of December 31, 2015

     Assets

     Property and  equipment

    1,849

    1,765

     Intangible assets  and Goodwill

    628

    592

     Accounts  Receivable

    3,266

    3,455

     Unbilled  Revenues

    612

    615

     Investments

    280

    1,273

     Cash and Cash  equivalents

    298

    355

     Other current  assets

    3,399

    3,232

     Other non-current  assets

    1,667

    1,432

     Total Assets

    11,999

    12,719

     Liabilities and Shareholders' Equity

     Shareholders'  Funds

    9,185

    10,265

     Long term  borrowings

    18

    13

     Short term  borrowings

    39

    14

     Other current  liabilities

    2,306

    2,077

     Other non-current  liabilities

    305

    307

     Minority Interest

    146

    43

     Total Liabilities

    11,999

    12,719


    About Tata Consultancy Services Ltd. (TCS)
    Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 285,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $11.6 billion for year ended March 31, 2013 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.

    For TCS global news, follow @TCS_News.

    For more information, please contact

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