Tough to repeat Q1 volume growth ahead: TCS

IT major Tata Consultancy Services' first quarter numbers beats street expectations. The company's dollar revenues grow more than 6% while profits fell lesser-than-expected to Rs 1,844 crore. Margin contraction too was much lower than what was estimated.
The numbers which came in post market hours yesterday seems to have buoyed the market. At 09:05 am, the share was quoting Rs 809, up Rs 26.90, or 3.44% on the National Stock Exchange.

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Speaking on the road ahead for the company in an exclusive interview to CNBC-TV18, the TCS management expects FY11 to be a reasonably good year.  "The overall environment remains good. All verticals and geographies are doing well."
However, they were quick to add that it would be tough to repeat the past quarter’s volume growth.
On the hiring front, TCS is looking to hire 40,000 employees in FY11. The management said attrition remains a concern and stated that they still face salary related headwinds to margins.

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