TCS Net Profit up by 64 percent
Posted on: 20/Apr/2016 2:40:36 PM
Tata Consultancy Services (TCS), one of the leading Information Technology Companies in the country, has exceeded the Market expectations in their performance in the first quarter of the calendar year (January to March).
It would be worth recalling that TCS had failed to meet the stock market expectations in performance over the last 6 quarters.
However, during the last quarter (Jan-March, 2016), TCS has increased the net profit by 64 percent to be Rs. 6341 Crores.
Last years net profit around the same period stood at Rs. 3858 Crores. As compared to the previous quarter (October-December) performance, the net profit is up by 3.8 percent.
The earnings of TCS have gone up by 17.5 percent and is Rs. 28449 Crores.
As compared to this, the last year`s for the same quarter period was Rs. 24219 Crore.
However, the operating profit margin of TCS has come down by 0.50 percent and currently stands at 26.1 percent.
TCS Chief Financial Officer Mr. Rajesh Rajagopalan informed that the company has invested 25 Crore US Dollars in the new opportunities & digital arena. The income of the Digital department of TCS in the last quarter was 15.5 percent.
The combined net profit in the financial year rose by 23.2% and is Rs. 24215 Crores. Earnings rose by 11.9% and is Rs. 108646 Crores.
TCS has touched earnings of 100 Crore US Dollars in India. The attrition rate (employees leaving the company) is 14.7 percent.
22576 new recruitments were made in the quarter.As on 31st March, there are 353843 employees in TCS.
TCS have given salary increase ranging from 8 to 12 percent to its employees.
For the employees deputed to foreign countries, TCS have given a salary rise from 2 to 4 percent.
