India's Tata Consultancy Services Q4 net profit up 4.6 pct

Apr 20, 2009

India's largest software exporter Tata Consultancy Services Monday said net profit rose 4.61 percent in the fourth quarter, hit by lower fees and cuts in technology spending due to the global economic slowdown.

Net profit was 13.14 billion rupees (268 million dollars) for the quarter ending March, up from 12.56 billion rupees in the same period a year ago, according to US accounting norms.

Revenues for the quarter rose 18.6 percent to 71.72 billion rupees, a statement to the Mumbai stock exchange said.

For the full year, TCS showed a 4.5 percent rise in consolidated at 52.56 billion rupees (1.07 billion dollars), from 50.26 billion rupees a year earlier.

"In an unpredictable environment, we delivered strong growth and continue to generate significant cash-flows," TCS chief executive S. Ramadorai said in a statement.

The company won 26 large deals in the year-to-March, as revenues from North America grew by 26 percent to more than three billion dollars, it said in the statement.

TCS shares fell 12.65 rupees or 2.21 percent to 560.4 ahead of the earnings announcement.

The company, which launched an in 2004, was established in 1968 as a pioneer in providing IT services to overseas clients ahead of Indian rivals such as Infosys Technologies and Wipro.

(c) 2009 AFP

Explore further: Sony's PlayStation back online after Christmas hack

add to favorites email to friend print save as pdf

Related Stories

India's Infosys posts profit dip on slowdown

Apr 15, 2009

India's Infosys Technologies said Wednesday its consolidated net profit for the fiscal fourth-quarter rose 29 percent from a year earlier, but fell sequentially due to the global slowdown.

Taiwan's HTC says profit down 30 percent

Apr 06, 2009

Taiwan's smartphone maker HTC Corp posted a year-on-year 30 percent fall in first quarter net profit as the global economic meltdown hit sales, the company said Monday.

Recommended for you

Sony's PlayStation 'gradually coming back'

22 hours ago

Sony was still struggling Saturday to fully restore its online PlayStation system, three days after the Christmas day hack that also hit Microsoft's Xbox, reporting that services were "gradually coming back."

Uber broke Indian financial rules: central bank chief

22 hours ago

India's central bank chief lashed out at Uber, already under fire over the alleged rape of a passenger, saying the US taxi-hailing firm violated the country's financial regulations by using an overseas payment ...

Taxi app Uber defies ban in Spain

Dec 26, 2014

Smartphone car-ride service Uber vowed Friday to keep operating in Spain despite a ban following a lawsuit by taxi drivers and said it would fight the case in court.

Sony film mess reflects gadgets-entertainment gap

Dec 26, 2014

Sony's iconic gadgetry and the star appeal of Hollywood may have appeared to be a perfect match when the electronics giant bought Columbia Pictures in 1989. A quarter century later, it's apparent that Sony ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.