India is key growth market for TCS

MUMBAI, INDIA: Tata Consultancy Services(TCS) has made a good start of the year by reporting a better than estimated Q1 earnings today.

The IT services major has posted 3 per cent QoQ growth in revenue to Rs 29,305 crore, although net profit fell 0.4 per cent sequentially to Rs 6,317 crore.

The incremental revenues of Rs 857 crore is the highest in last seven quarters, mainly driven by strong growth in core markets in North America, UK and Europe. India, however, was the top growth market with 8.5 per cent QoQ growth.

"Strong execution and accelerating customer adoption of cloud, big data and analytics has driven broad-based growth across markets and industries," said CEO and MD, N Chandrasekaran.

The company has added six clients in $20 million category and four in $50 million category.