Tata Consultancy Services (TCS), the leading domestic software export company, posted robust growth of 14.0% (YoY) in Q1FY11 Net Sales to Rs 8217.3 crore led by healthy growth across all geographies and verticals. Volume growth in Q1FY11 was 8.1% on sequential quarter basis. BFSI, Telecom and Retail verticals were primary growth drivers. Despite the salary hike and losses on account currency fluctuations, Q1FY11 EBITDA at 29.3% was higher than market expectations. Despite certain units losing STPI status and being charged higher effective tax rates, Net profit for Q1FY11 grew by 24.9% (YoY) to Rs 1938.0 crore.