TCS Q4 Net Rises 31.08%

TCS Q4 Net Rises 31.08%After the shock from Infosys, Tata Consultancy Services (TCS) on Thursday declared a better set of numbers in proportion to analysts' prospects.

Although the TCS's quarterly income surpassed the Rs 10,000 crore mark for the initial time, profit margins for the three month period ended March 2011 dropped in a marginal manner on a year-on-year basis on currency variations and advanced taxes.

TCS, which does not give guidance, however stated that it was worried about headwinds such as pay hikes and currency instability going forward.

The company said that its revenues for Q4FY'11 surged 31.26% to Rs 10,157 crore as against Rs 7,738 crore on a year-on-year basis.

TCS registered a 31.08% increase in net profit, which stood at Rs 2,623 crore as compared to Rs 2,001 crore in the corresponding period of last fiscal.

On a quarter-on-quarter basis, TCS recorded an 11% surged in its fourth quarter net profit on account of increasing demand for outsourcing services from western customers.

TCS MD & CEO, N Chandrasekaran, stated the company witnessed an "all-round performance" in all the major sections, comprising banking, financial services and insurances (BFSI), retail, energy & utilities, pharma & life sciences, and travel & hospitality.

TCS's full FY'11 income remained up by 24% to Rs 37,325 crore from Rs 30,029 crore in 2010.

FY'11 net profit zoomed 30% to Rs 9,068 crore as against Rs 7000.6 crore last year.