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TCS Q4 Indian GAAP Profit Grows

Tata Consultancy Services Ltd. reported a rise in its fourth-quarter net profit, on an Indian GAAP basis, both on consolidated and stand-alone basis, led by strong growth from North America and Europe markets. Besides, all industry verticals reported higher growth path during the quarter.

The company became the first Indian IT firm to cross the Rs.10,000-crore mark revenue for the fiscal year.

Consolidated Results

The Mumbai-based company posted a fourth-quarter net profit of Rs.2,894.93 crore or Rs.14.70 per share, higher by ten percent than the Rs.2,622.93 crore or Rs.13.41 per share for the quarter ended March 31, 2011.

Quarterly total income from operations increased by 30 percent to Rs.13,259.33 crore from the Rs.10,157.49 crore in the corresponding quarter of the preceding year, while other income stood at Rs.98.62 crore, compared with Rs.243.58 crore in Q4FY11.

Segment-wise Revenues

During the quarter, income from "Banking, Financial Services & Insurance" rose by 25 percent to Rs.5,597.49 crore from the Rs.4,465.19 crore in the year-ago quarter, while that from "Manufacturing" touched Rs.1,047.73 crore, up by 38 percent from the Rs.760.19 crore last year.

Income from "Retail & Distribution" was Rs.1,662.88 crore, up by 46 percent from the Rs.1,136.95 crore in Q4FY11, whereas income from "Telecom, Media and Entertainment" grew by 19 percent to Rs.1,608.29 crore from the Rs.1,351.98 crore last yer. Income from "Others" totaled Rs.3,342.94 crore, compared with Rs.2,443.18 crore in the previous year.

For the fiscal year, its consolidated net profit crossed Rs.10,000-crore mark at Rs.10,413.49 crore, compared with Rs.9,068.04 crore last year, an increase of 15 percent.

For the year, total income from "Operations" increased by 31 percent to Rs.48,893.83 crore from the Rs.37,324.51 crore last year, while other income totaled Rs.428.17 crore, compared with Rs.604.00 crore in 2011.

Geographically, TCS said, the North American region contributed 29.6 percent to its total income, while that from Europe (including UK) was 33.8 percent. All industry verticals grew in double digits during FY12.

There was an all-time high net addition of 39,969 employees, taking the total count to 238,583 as at the end of last month. The company's attrition rate in the fiscal was 12.2 percent.

Stand-alone Results

For the fourth-quarter, TCS's stand-alone net profit was Rs.2,558.34 crore or Rs.12.99 per share, up by 19 percent from the Rs.2,149.18 crore or Rs.10.99 per share in the year-ago quarter. Total income, including other income, rose by 30 percent to Rs.10,615.17 crore from the Rs.8,187.64 crore a year ago.

For the full year, TCS's stand-alone net profit was Rs.10,975.98 crore, up by 45 percent from the Rs.7,569.99 crore in 2011. Total income, including other income, rose by 40 percent to Rs.41,543.72 crore from the Rs.29,770.14 crore a year ago.

The company's Board recommended a final dividend of Rs.16.00 per equity share of Re.1 each (including a special dividend of Rs.8.00 per equity share) for the fiscal year 2012, to be paid on the fourth day from the conclusion of the Annual General Meeting.

The Board also recommended a dividend of Re.0.22 on Redeemable Preference Shares of Rs.1 each.

Chief Executive Officer & Managing Director N. Chandrasekaran said: "We have carried our strong momentum through the fourth quarter to close out a year of strong growth. We have kept our focus on profitability and consolidated our market leadership. With our customer-centric approach, strong solution set and investments in game-changing technologies like mobility, big data and cloud, we remain well positioned to help our customers transform and drive growth in their business."

Looking ahead, he added, "TCS is well prepared to achieve balanced growth across the industries and markets it operates in, given its holistic portfolio of services which are now achieving significant scale across markets."

At the BSE, TCS shares are currently trading at Rs.1,157.95, up by Rs.98.70 or 9.32 percent on a volume of around 694,000 shares.

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by RTT Staff Writer

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