Tata Consultancy Services (TCS), India's leading software exporter, has reported second quarter earnings today that met the analysts' estimates. Earnings for the quarter grew 13.2% on year-on-year basis to Rs 52.44 billion for the quarter ended September 2014. However, on the sequential basis, the profit declined 5.8%.

Revenues has grown 7.7% sequentially and 13.5% on year-on-year basis to Rs 238.16 billion. Operating income went up 7% sequentially to Rs 63.51 billion while operating margin stood at 26.7%.

The company has added 20,350 employees on gross basis while the total headcount moved up to 313,757. Overall utilization was 81.3% including trainees.

N Chandrasekaran, chief executive officer and managing director said, 'Driven by strong volumes and robust utilization rates, this has been a quarter of steady, consistent performance. Our well-rounded showing had been highlighted by broad-based growth in our key markets, industries and services as we continued to deepen our engagement with customers.'

'Our customers are focused on using Digital technologies to reimagine their business in multiple dimensions and with our significant investments as well as deep capabilities in these areas, we remain well positioned to act as a catalyst and enable their business innovation across the enterprise,'' Chandrasekaran added.

Shares of the company declined Rs 20.85, or 0.77%, to settle at Rs 2,678.85. The total volume of shares traded was 158,131 at the BSE (Thursday).