Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
TCS records 33 % rise in Q1 net
By agencies
|
Saturday, 16 July 2005, 19:30 IST
MUMBAI: Tata Consultancy Services (TCS) has reported a net profit of Rs 5.78 billion for the first quarter.
According to company officials, the company's consolidated net profit, at Rs 6.3 billon, was 33 percent higher, year-on-year, and 33.66 percent higher, quarter-on-quarter.
However, the corresponding figures for the previous year were not provided since TCS did not have any operating segment last year in the quarter ended June 30, 2004, said a statement from the company.
The higher net profit was on account of increased international business, better employee utilization and improved cost management, said S. Ramadorai, CEO and MD, TCS.
Consolidated revenues rose by 24.56 percent, year-on-year, to Rs 27.21 billion. Revenues from GE, the company's largest client, fell to 13 percent of total revenues, down from 13.9 percent, he said.
Operating margins improved from 26.35 percent to 27.38 percent.
This was despite a pressure on costs, said S. Mahalingam, Chief Financial Officer.
The company has added 68 new clients during the quarter. The company hired 2,690 employees during the quarter under consideration.