TCS first quarter net profit rose 38% year-on-year (14.6% sequentially) to Rs 3,280.5 crore, while revenue was also up 38% (up 12% quarter-on-quarter) to Rs 14,869 crore.
Bangalore-based Infosys had reported a lower-than-expected 33% year-on-year (down 1% sequentially) rise in first quarter net profit at Rs 2,289 crore, while revenue was barely in-line at Rs 9,616 crore, up 29% (up 9% quarter-on-quarter).
Infosys had flagged off some pricing pressures, slower IT spends and currency volatility for its poor performance.
Although TCS said that unprecedented currency volatility continued to be a challenge in the short-term, but global demand for IT services continues to be good.
Here’s a head-to-head comparison of the two IT majors:
|Revenue Growth (USD)|
|Revenue Growth (INR)|
|PAT Growth (INR)|
|Client addition in Q1FY13||29||51|
|Growth in key business verticals (QoQ)|
|Currency Average Rate||54.5||54.83|