TCS reports 6.2% rise in net income

IT consulting and outsourcing giant Tata Consultancy Services (TCS) said its net income for the quarter ended 30 September rose 6.2% year-on-year to USD984m. Growth in fiscal Q2 was led by Life Science and Healthcare, which grew at 4.7% sequentially in constant currency followed by Energy & Utilities, Manufacturing, Travel & Hospitality and Communication and Media. Revenue was up 5.2% year-on-year to USD4,374m, with digital revenues up 16.1%. Geographically, Europe saw strong growth at 3.7% and Asia Pacific at 3.5% while North America grew 1.4%. The United Kingdom was flat. India declined by 7.6% sequentially, and Latin America also continued to show volatility. TCS, which has a contact center in the Philippines, has 371,519 employees.