TCS profits up by 24%
Posted on: 18/Apr/2013 2:29:49 PM
Tata Consultancy Services (TCS) has announced a 24.9 per cent rise in profits during the fourth quarter as compared to the same time last year. It announced that its net profit is Rs. 3616 crores. The announcement comes in the wake of Infosys’s not so encouraging reports for the same quarter.
Says CEO of TCS N. Chandrasekaran, ‘We have delivered another strong quarter, and have closed the year with a good run rate… Operating profit for the period was up 18.6 per cent at Rs.4,358.4 crore while operating profit margin was 26.5 per cent.
‘We maintained margins despite a Rs.161 crore settlement and a Rs.100 crore currency headwind that we faced during the quarter. The former had an impact of 98 basis points and the latter of 64 basis points on margins… There was a 4.4 per cent volume growth across segments except telecommunications which saw marginal growth and continental Europe outperformed the U.K.’
