Mumbai, Apr 21 (UNI) Software bemoath Tata Consultancy Services Limited today reported a 22.36 per cent growth in its annual revenue for fiscal 2008 at Rs 22,863 crore (5.7 billion USD) with net profit up by 19.31 per cent at Rs 5026 crore However, the fourth quarter saw a dip in the net profit by 6.17 per cent on a sequential basis, though year on year it was up by 4.15 per cent. The quarter saw TCS netting Rs 6,098 crore in revenue up by 18.13 per cent year on year and 2.95 per cent sequentially.
Announcing the results, TCS CEO and MD S Ramadorai said ''Our full year result reflects a validation of our strategy and robust business model that helped us deliver strong growth rate again on an ever increasing base and in a difficult challenging environment.'' He said ''We will deliver sustained profitable growth in a next financial year helped by a new agile customer centric organisation structure that add value to our client and employees.
Moving forward, the company is pursuing around 25 major projects of over 50 Million dollars each across the globe, including a few in India and expressed to maintain a strong growth.
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