TCS fourth quarter profit rises 48.2 pc to Rs 5,357.6 crore

The country's largest software services firm Tata Consultancy Services (TCS) today reported a 48.2 per cent jump in consolidated net profit to Rs 5,357.6 crore for the quarter ended March 31, helped by growth in Europe and APAC and investments in digital technologies.

The city-headquartered firm had posted a net profit of Rs 3,615.64 crore a year earlier, it said in a BSE filing.

Consolidated revenue for the January-March quarter was up 31.2 per cent to Rs 21,551.09 crore from Rs 16,430.09 crore in the year-ago period. The results are on India GAAP basis.

"We have delivered strong growth and strengthened our competitive positioning in the market. We have maintained our momentum, improved our quality of growth, deepened our relationship with customers and expanded our presence in the newer markets of Europe during the past 12 months," TCS Chief Executive Officer N Chandrasekaran said.

The firm's strategic investments, including those in digital technologies, are providing a compelling value proposition as well as helping the company anticipate and shape new market trends successfully, he added.

Sequentially, net profit was up 0.5 per cent from Rs 5,333.43 crore in the October-December quarter, while revenue rose 1.2 per cent from Rs 21,293.96 crore.

For 2013-14, net profit was up 37.69 per cent to Rs 19,163.8 crore and revenue grew 29.87 per cent to Rs 81,809 crore.

TCS added a net 9,751 employees in the fourth quarter and a net 24,268 employees during the entire financial year to take its head count to 300,464.

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