Tata Consultancy Services, part of India's largest conglomerate Tata Sons, boosts its growth in the UK

 
Shruti Tripathi Chopra
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TCS' UK markets grew 6.1 per cent (Source: Getty)

Indian IT firm Tata Consultancy Services (TCS), part of India's largest conglomerate Tata Sons, has seen its annual revenue rise 5.8 per cent to $17.58bn (£13.8bn) for the financial year ended 31 March.

The firm reported a net profit at $3.92bn, up six per cent year-on-year.

TCS' UK markets grew 6.1 per cent while Latin America and India grew at 14.1 per cent and 10.1 per cent respectively. Europe grew 13.6 per cent and crossed $2bn in revenues followed by North America (7.6 per cent).

Read more: Is Tata considering walking away from its Thyssenkrupp plan?

TCS attributed its growth to digital revenues which hit $3bn, growing 29 per cent year-on-year.

Rajesh Gopinathan, chief executive and managing director, said: “We added $1.4bn in constant currency revenues during the year and increased our digital revenues sharply as we helped our customers leverage the digital economy. Our digital business grew at 29 per cent annually with most industries showing double digit growth as we steadily increased the number of customers across different revenue bands.”

"Our clients are looking for integrated offerings as they advance their cloud agenda and we have a solid pipeline of deals across markets and industries. On the back of digital adoption, agile, automation and cloud are the themes that we are going to market to drive efficiencies and predictable outcomes across our clients infrastructure, applications and business operations.”

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In the UK, Tata Steel is currently in talks with Thyssenkrupp for a merger of its embattled steel operations. The deal is expected to safeguard the future of the Port Talbot plant and a total of 8,000 UK jobs.

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