TCS Q1 net up 19% at Rs 1,534 cr

Tata group company and IT major Tata Consultancy Services (TCS), on Friday said that it has clocked a net profit of Rs 1,534 crore (Rs 15.34 billion) in Q1 FY 10, up 19 per cent as compared to the year-ago period of Rs 1,290.61 crore (Rs 12.90 billion).

Its revenue for the reporting quarter rose 12 per cent at Rs 7,207-crore as against Rs 6,410.70 crore (Rs 64.10 billion) in the year-ago period.

The company said that it added 26 clients in the quarter while there was a gross addition of 2,828 employees in the same period. The attrition rate was 11.5 per cent.

The share of revenue from its top 10 clients grew to 28 per cent from 26.8 per cent in the previous quarter, the company said.

"We are watchful of a weak global environment and do not rule out there could be surprises (with respect to the meltdown)," the company's Managing Director & CEO, S Ramadorai, said.