TCS group Q1 net up 18.85%

Tata Consultancy Services Ltd (TCS), on Friday, announced its audited consolidated results showing a net profit of Rs 1,533.94 crore for the quarter ended June 30, 2009 as compared to Rs 1,290.61 crore for the similar quarter last fiscal, an increase of 18.85 per cent.

Total Income has increased by 12.05 per cent from Rs 6,454.62 crore for the quarter ended June 30, 2008 to Rs 7,232.54 crore for the quarter ended June 30, 2009
India’s largest software exporter’s stand-alone results showed a net profit after taxes of Rs 1,276.44 crore for the quarter ended June 30, 2009 as compared to Rs 1,204.01 crore for the same of the previous financial year, up 6.01 per cent.

Total Income has increased by 7.05 per cent from Rs 5,241.26 crore for the quarter ended June 30, 2008 to Rs 5,610.86 crore for the quarter ended June 30, 2009.
During the quarter under review, TCS incurred a foreign exchange loss of Rs 84.14 crore.   Meanwhile, TCS Board at its meeting this day declared an interim dividend of Rs 2 per share for the current fiscal.

Briefing reporters, TCS Chief Operating Officer N Chandrasekaran said TCS saw continued weakness in the outsourcing business environment due to the slowdown in the global economy. While growth was broad-based across markets, he pointed out that North America continued to maintain its share of revenues aided by semblance of stability in the Banking, Financial Services and Insurance (BFSI) verticals. In Europe, demand uptake from recently-acquired clients is helping sustain growth momentum and the pipeline remains strong, while demand from emerging markets is being driven by system integration and outsourcing engagements, he said.