MUMBAI -- Tata Consultancy Services (BSE: TCS.BO) (NSE: TCS.NS) reported its consolidated financial results according to US GAAP for the quarter ended September 30, 2006.

Commenting on Q2 performance, CEO and MD of TCS, S. Ramadorai said: "TCS had a dynamic quarter with a continuous focus on profitable growth, driven by strong international demand, an increasing number of large customers as well as a healthy addition of 58 new accounts. There is tremendous scope to continue to increase our share of wallet with our top 50 customers using our full-services model."

S. Mahalingam, Chief Financial Officer, said: "In a strong demand environment, we have improved our margins by almost 300 basis points by ensuring revenue growth matches with our profitability benchmarks. Moreover, margins have been boosted as large contracts announced earlier have transitioned into the off-shore mode."

Tata Consultancy Services Ltd.