TCS Q4 net up 50% at Rs 2,001 cr

The country's top software exporter, Tata Consultancy Services, on Monday said its net profit rose by 50.1 per cent to Rs 2,001 crore (Rs 20.01 billion) for the fourth quarter ended March 31, 2010.

As per the Indian accounting standards, its revenues from the operations for the reported period stood at Rs 7,738 crore (Rs 77.38 billion), up nearly 8 per cent from the same period previous fiscal, TCS said in a filing to the Bombay Stock Exchange.

The company has recommended a final dividend of Rs 4 and a special dividend of Rs 10 on equity share of Rs 1 each of the company for approval by the shareholders.

"Our ability to react to growth opportunities and execute efficiently has helped TCS deliver a superior performance for the fourth successive quarter. Our volumes have grown and our margins are at near historic highs," TCS CEO and MD N Chandrasekaran said.

For the year ended March 31, 2010, the company registered a consolidated net profit of 7,000.64 crore (Rs 70 billion), up 33.18 per cent compared to last year.

Its revenue for the period stood at Rs 30,028.92 crore (Rs 300 billion), up nearly 8 per cent from the same period previous fiscal.

"While FY'10 has been a challenging year, we have used this time to improve efficiencies and generate better returns by boosting margins," TCS CFO S Mahalingam said.

The company added 16,668 employees in 2009-10, resulting into a total strength of 1,60,429 employees.