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TCS net profit up 7 percent for Q4
By siliconindia
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Tuesday, 21 April 2009, 15:56 IST
Bangalore: Tata Consultancy Services (TCS), the IT outsourcing giant, registered year-on-year (YoY) net profit of seven percent at 
13.14 billion ($261.2 million) for the fourth quarter ended March 31, 2009. Revenue for quarter ending March 31 was 71.72 billion ($1.4 billion), up 18.5 percent compared to the same quarter last year and 1.5 percent higher sequentially.
The net profits on a Quarter on Quarter (QoQ) basis dipped 2.1 percent, as per the Indian GAAP and 2.8 percent, as per the U.S. GAAP. "From an operational perspective, TCS has played a fine innings in FY09. Volumes grew by 18 percent. Off-shore leverage increased by 227 basis points during the year and operating margins improved by 102 basis points on an annual basis. All key markets including U.S. and Europe grew at rates higher than company average, while all verticals including BFSI, manufacturing and retail posted double digit growth during the year. Looking ahead, we will continue to focus on operational improvements and look to leverage our established client base for volume growth in major and new growth markets," N. Chandrasekaran, Chief Operating Officer and Executive Director said.
The company has added 36 new clients and has closed seven large deals in the fourth quarter of FY08. TCS delivered healthy topline growth of 23 percent and crossed the $6 billion milestone in revenues.
13.14 billion ($261.2 million) for the fourth quarter ended March 31, 2009. Revenue for quarter ending March 31 was 71.72 billion ($1.4 billion), up 18.5 percent compared to the same quarter last year and 1.5 percent higher sequentially.
The net profits on a Quarter on Quarter (QoQ) basis dipped 2.1 percent, as per the Indian GAAP and 2.8 percent, as per the U.S. GAAP. "From an operational perspective, TCS has played a fine innings in FY09. Volumes grew by 18 percent. Off-shore leverage increased by 227 basis points during the year and operating margins improved by 102 basis points on an annual basis. All key markets including U.S. and Europe grew at rates higher than company average, while all verticals including BFSI, manufacturing and retail posted double digit growth during the year. Looking ahead, we will continue to focus on operational improvements and look to leverage our established client base for volume growth in major and new growth markets," N. Chandrasekaran, Chief Operating Officer and Executive Director said.
The company has added 36 new clients and has closed seven large deals in the fourth quarter of FY08. TCS delivered healthy topline growth of 23 percent and crossed the $6 billion milestone in revenues.
