Monday, April 21, 2008

TCS Q4 net up by 4.15%

Tata Consultancy Services (TCS), India`s biggest software exporter registered a Y-o-Y increase of 4.15% in earnings and a sequential decline of 6.17% in consolidated net profit to Rs 12,450 million in quarter ended March 2008. During the quarter, the company posted earnings of Rs 12.72 a share on consolidated basis, registering a sequential increase of 6.19%. Consolidated total revenues of the company grew 18.13% on Y-o-Y basis and a sequential rise of 2.95% during the quarter to Rs 60,980 million.

For the financial year 2008, TCS posted 19.31% increase in consolidated net profit to Rs 50,260 million over fiscal 2007. Consolidated total income for the year rose 23.45% to Rs 233,494.50 million compared with the prior year.
Commenting on the financial performance in FY 2008, S. Ramadorai, CEO and managing director said, ``We are extremely satisfied with our annual performance. Our full year results reflect a validation of our strategy and robust business model that has helped us deliver strong growth rates again on an ever increasing base and in a difficult and challenging environment.`` He added, ``We will deliver sustained, profitable growth in the next financial year helped by a new agile customer-centric organisation structure that adds value to our clients and employees.``

N. Chandrasekaran, chief operating officer and executive director said, ``TCS continues to gain traction for its superior full services capabilities backed by our global network delivery model. Our significant deal wins in the last few quarters across sectors and markets and a healthy deal pipeline will drive our ramp ups to deliver growth next year. In addition to the major markets, we are also well positioned to deliver new growth markets like Asia-Pacific, India, Middle-East and Latin America.`` Shares of the company declined Rs 1, or 0.1%, to settle at Rs 999.9. The total volume of shares traded was 129,595 at the BSE (Monday).

Other Highlights:
> 53 new clients added
> Gross employee addition at 6,921 and net employee additions at 3,299
> Closed 6 USD 50 million plus deals in Q4
> Rs 5 a share declared as final dividend in Q4

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