News Section | Tech Business
TCS quarterly net profit rises 31.1 percent
India’s largest software company Tata Consultancy Services (TCS) Thursday posted a 31.1 percent increase in net profit at Rs.2,623 crore for the quarter ended March 31.
The revenue of the company stood at Rs.10,157 crore – up 31 percent for the quarter.
“Excellent execution and a constant focus on the customer has helped TCS round off a sterling performance in financial year 2011 with strong growth in the fourth quarter while maintaining margins at record high,” said managing director and CEO N.Chandrasekaran.
For whole of 2010-11, the company’s net profit grew 29.5 percent to Rs.9,068 crore, while its revenues during the year increased 24.3 percent to Rs.37,325 crore.
There was a secular growth across markets and industries during the financial year.
In terms of services, the company’s full services capabilities continue to be leveraged by customers with its new service lines like infrastructure services, products and enterprise solutions growing at a faster pace, the company said in a statement.
The gross employee addition for the period under review stood at 69,685 taking total headcount to 1,98,614.
The company has also announced a final dividend of Rs.8 per share on the face value of Re.1.
“The demand environment continues to be vibrant. There are opportunities across markets and industries. Our nimble organisation structure, together with our full-services strategy and domain-intensive solutions gives us a great platform to sustain growth,” said Chandrasekaran.
At the Bombay Stock Exchange, the shares of the company ended 2.61 percent lower at Rs.1,187.
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