TCS posts 24.03% increase in its Q3 results

New Delhi, Jan 16 (UNI) Country's largest software exporter Tata Consultancy Services Ltd (TCS) today said its net profit increased 24.03 per cent at Rs 1,178.99 crore for the quarter ended December 31, 2007 as compared to Rs 950.52 crore for the corresponding period previous year.

The total income increased 28.38 per cent to Rs 4941.48 crore from Rs 3848.83 crore for the same period.

The board, which met today, approved to issue and allot Rs 100 crore non-convertible redeemable preference shares to the promoter of the company Tata Sons, subject to the approval of shareholders.

The company has bagged a 100 million dollars contract from Global Insurance Company, beside securing another 200 million dollars contract from a Mexico firm.

TCS, that has suffered attrition rate of 12 per cent, will hire about 32,500 people in FY08.

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