Tata Consultancy Services (TCS), the IT services firm, reported last week revenue rose 16.4% on a constant currency basis in its fiscal first quarter ended 30 June 2021. Net income was up 32.0%.

Year-on-year revenue growth was led by Middle East & Africa (25.3%) with growth seen across the UK (16.3%), Latin America (16.1%), Continental Europe (19.7%), and North America (15.8%).

By industry, growth continued to be led by Life Sciences and Healthcare which was up 25.4%.

The group added that it saw its highest ever quarterly net headcount addition of 20,409.

N Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said, “We overcame the challenges posed by the second wave of Covid-19 in India taking some practical approaches and am satisfied that the delivery of all our client engagements was kept on track.”

Rajesh Gopinathan, Chief Executive Officer and Managing Director, said, “I am humbled that in a personally challenging quarter to many, TCSers demonstrated phenomenal character in helping each other, be meaningful to the communities and delivered on our commitments to clients. On that backdrop, our business in North America, BFSI and Retail all showed an appreciable growth which underlines the resilience of our operating model, relevance of our offerings and above all, the passion and dedication of our associates. Given the variants of the virus and fears of a potential third wave, we are watchful of the emerging situation and remain optimistic of the opportunities in our core markets and verticals. We are well positioned and operating diligently to participate in them aggressively.”

Shares in Tata Consultancy Services closed at INR 3,258.50 (USD 43.76), down 0.5% on the day. The company has a market cap of INR 11.81 trillion (USD 158.58 billion).