Tata Consultancy Service, leading IT services, consulting and business solutions firm reported reported a 15.5 per cent increase in the first-quarter profit.

Its net profit increased to Rs 3,831 crore during the quarter ended June 2013 from Rs 3,318 crore in the same period of last year.

Calling it a stellar performance Chief Executive Officer and Managing Director, N Chandrasekaran said: “We have delivered another solid quarter, driven by the highest volume growth in the past seven quarters. It has been an all-round performance with strong revenue growth across markets led by the US. Our investments in Europe continue to gain strong traction with customers and helped us deliver industry-leading growth this quarter.”
 
He said that strong momentum in business, the right cost structure, a customer-centric approach and our increasing investments in new digital solutions and services positions the company well to post another year of strong business growth.
 
The company's revenue growth was also better-than-expected 21 percent YoY (10 percent sequentially) at 17,987 crore in April-June.

"Overall the environment is quite good from our industry point of view. We see a great momentum. We have delivered well rounded growth. US, UK, Europe have been spectacular this quarter. The growth has been across sectors. We see great momentum, not only in transformational deals but also in the digital space," Chandrasekaran said.

Other income in the quarter was at Rs 258 crore, up 39 percent from a year ago (down 42 percent QoQ).
 
During the quarter TCS added 10,611 Employees and two new $100 million clients. It registered 82.7% (excluding trainees) utilization rate.

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