Q4: TCS net profit surges 50 per cent

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Q4: TCS net profit surges 50 per cent

Mumbai, Apr 20: India's largest software services provider, Tata Consultancy Services (TCS) on Monday, Apr 19 reported a massive 50 per cent net profit surge in the fourth quarter of 2010.

As per the official numbers, TCS net profit grew by 50.1 per cent to Rs 2,001 crore (Rs 20.01 billion) for Q4FY10 ended March 31, 2010.

In a filing to the Bombay Stock Exchange (BSE), the company said that revenues from the operations for the quarter was at Rs 7,738 crore (Rs 77.38 billion), which accounts for a 8 per cent increase compared to the performance in the corresponding period of the previous fiscal.

The company registered a consolidated net profit of 7,000.64 crore (Rs 70 billion), up 33.18 per cent for the year ended Mar 31, 2010 in a Year on Year (YoY) basis.

"Our ability to react to growth opportunities and execute efficiently has helped TCS deliver a superior performance for the fourth successive quarter. Our volumes have grown and our margins are at near historic highs," TCS CEO and MD N Chandrasekaran said.

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