TCS net profit grows 25% to US$531mn during fiscal Q4

- Tuesday, April 26, 2011

TCS net profit grows 25% to US$531mn during fiscal Q4

Indian IT services firm Tata Consultancy Services (TCS) saw its net profit grow 25.4% year-over-year to US$531mn for the fourth quarter of fiscal 2011, ended March 31, according to financial results reported by the company.

Revenues for the quarter were US$2.2bn, up 33.2% year-over-year and 4.7% sequentially.

For full fiscal 2011, TCS reported a net profit of US$1.9bn, growing 31.1%. Revenues grew 29.1% to US$8.2bn.

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TCS ended the fiscal year with more than 198,000 employees, adding 11,700 during Q4 and a total of 38,185 throughout the year.

The company's CEO N Chandrasekaran said TCS sees opportunities across various markets and industries and will invest in new areas like mobility, analytics, social media and sustainability solutions.

TCS's Latin America COO, Ankur Prakash, recently told BNamericas that the firm had closed three major deals in the banking sector, in addition to a significant contract in manufacturing and another with a regional multi-industry group. Focus areas for fiscal 2012 will also include projects in telecommunications and manufacturing, while additional opportunities will come through e-government deals.

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