TCS Tops $10B in Annual Revenue, Up 24%

Tata Consultancy Services unveiled its fourth quarter and full fiscal year ending March 31, 2012, with annual revenues reaching the $10.17 billion, up 24 percent year over year.  The firm’s annual net income was at $2.2 billion, up 16 percent year-over-year.

Anyway you slice the news was good for TCS. The earnings report indicated the highest gross addition and net addition of employees in TCS history with 70,400 employees and 39,969 employees respectively, bringing TCS’ total employee number to 238,583. TCS also added 141 new clients in fiscal year 2012; however 98 percent of revenue came from repeat business.

“We have carried our strong momentum through the fourth quarter to close out a year of strong growth. We have kept our focus on profitability and consolidated our market leadership,” N. Chandrasekaran, CEO and Managing Director of TCS says. “With our customer-centric approach, strong solution set and investments in game-changing technologies like mobility, big data and cloud, we remain well positioned to help our customers transform and drive growth in their businesses.”

Top industries for the quarter and full fiscal year by percentage of total revenue were Banking, Financial Services & Insurance, Retail & Distribution and Telecom, while the top service lines for the quarter and full fiscal year were Applications Development & Maintenance, Business Process Outsourcing and Enterprise Solution