Tata Consultancy Services, leading IT services, business solutions and outsourcing firm, on Monday, announced a net profit of Rs 1,244.83 crore for the fourth quarter ended March 31, 2008, as against Rs 1,195.19 crore, an increase of 4.15 per cent over  the same quarter period of the previous fiscal.

Likewise, the company’s total revenues for the reporting quarter stood at Rs 6,097.80 crore as against Rs 4,950.29 crore of the previous fiscal’s same period quarter registering an increase of 18.13 per cent.

For fiscal year ended March 31, 2008, the company’s net profit stood at Rs 5,026.02 crore as against Rs 4,212.63 crore an increase of 19.3 per cent over the corresponding period a year-ago. The total income of the group stood at Rs 22,863.39 crore for the year ended March 31, 2008, as compared to Rs 18,685.21 crore in the previous fiscal, an increase of 22 per cent. The gross employee addition stood at 6,921 and net employee addition at 3,299 the company said in a release here, adding overseas nationals formed 9.1 per cent of the total employee base. TCS, the company, said, it has continued to maintain the lowest attrition rate in the industry at 12.6 per cent. The company added 53 new cliented to its kitty.

Business model

CEO & Managing Director S Ramadorai said “our full year reflect a validation of our strategy and robust businessmodel that has helped us deliver strong growth rates again on an ever increasing base and in a difficult and challenging environment.”

CFO and Executive Director S Mahalingam observed that “this has been a year where we have made significant investments to diversify our revenues and grow in new markets as well as develop new solutions and services.”