TCS Q2 profit up 4% at Rs 5244 cr: Here are the highlights

India’s largest IT major, TCS, today reported a 3.7 percent sequential rise in net profit at Rs 5244.3 crore for the quarter ended September 2014 against Rs 5057.8 crore in the previous quarter.

“Strong organic volumes drive steady growth in Q2,” the company said in a statement.

Consolidated revenue grew by 7.7 percent to Rs 23,816 crore in July-September quarter compared to Rs 22,111 crore in previous quarter while dollar revenue growth was 6.4 percent at $3,929 million compared to $3,694 million on a sequential basis.

According to the average of estimates of analysts polled by CNBC-TV18, profit was expected to grow 5 percent sequentially to Rs 5,312.6 crore on revenue of Rs 24,046 crore (8.7 percent growth) during the quarter.

Here are the highlights

Operating profit margin stood at 26.8 percent, up 50 basis points over 26.3 percent reported in the previous quarter.

The board at TCS and CMC (a subsidiary of TCS) today approved the amalgamation of the latter with former. Shareholders of CMC will receive 79 equity shares of Re 1 each of TCS for every 100 shares of Rs 10 each of CMC.

The company has declared a second interim dividend of Rs 5 per equity share.

The company added 20,350 gross employees in Q2

Its total headcount now stands at 3.13 lakh.

It added nine $20 million plus clients and four $50 million plus clients in Q2.

Emerging markets continue to be volatile, Latin America faltered," said TCS.

Ahead of results shares in TCS closed the day at Rs 2678.85, down 0.77% on the Bombay Stock Exchange