Mumbai, India-based information technology consultancy Tata has released financial results for the second quarter of its fiscal year. That quarter ended Sept. 30.
Tata saw total revenues at $1.57 billion for the quarter, which is up 14.74 percent, year over year. The firm added 51 new clients, including those in the electronics and pharmaceutical sectors, and hired 9,682 employees. The firm's goal is to hire between 30,000 and 35,000 professionals in the current fiscal year. The firm also reports an 81.1 percent utilization rate, excluding trainees.
In addition, the firm's international business grew 9.5 percent.
"In a quarter where the Indian rupee and global currency has been very volatile, TCS has managed to deliver greater profitability by achieving significant improvement in operating profits and margins," says S. Mahalingam, Tata's chief financial officer. "We have a sustainable business model, and we remain focused on managing risks, continued growth and delivering margin improvements going forward."
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