Despite the gloomy economic news coming from Europe, that continent actually led growth during the third quarter for TCS, revenues from there growing 18.1 per cent sequentially. This was followed by the US (13.3 per cent), and UK (9.5 per cent).
Latin America grew 18.6 per cent, while India, which showed a de-growth in the previous quarter, grew 14.8 per cent. Asia Pacific grew 15.7 per cent.
All industry sectors, except telecom, showed strong growth, said Mr N Chandrasekaran, CEO and MD of TCS.
A significant number of clients are on track or have closed budgets, he said. One could not make any generalisations about geographies or industries because some have increased budgets while others have decreased while still others are showing flat budget growth, he said.
Attrition down
Attrition was down for the second quarter in a row, at 12.8 per cent, down from 13.7 per cent. The total number of employees stands at 2,26,751, with a net addition of 11,981 employees happening during the quarter. The company plans to hire 15,000 more during the current quarter.
Utilisation was 82.02 per cent excluding trainees and 74.04 per cent including trainees. The offshoring percentage went up this quarter, and in fact had a negative impact of 69 basis points on revenue.