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 with all markets and industry segments growing in double digits.
Consolidated Results
The Mumbai-based company posted a fourth-quarter net profit, after minority interest, of Rs.3,615.64 crore or Rs.18.46 per share, higher by 25 percent than the Rs.2,894.93 crore or Rs.14.70 per share for the quarter ended March 31, 2012. On a sequential basis, profit for the quarter grew by two percent.
Quarterly total income from operations increased by 24 percent to Rs.16,430.09 crore from the Rs.13,259.33 crore in the corresponding quarter of the preceding year, while other income stood at Rs.442.45 crore, compared with Rs.98.62 crore in Q4FY12.
Segment-wise Income
During the quarter, income from "Banking, Financial Services & Insurance" rose by 28 percent to Rs.7,152.70 crore from the Rs.5,597.49 crore in the year-ago quarter, while that of "Manufacturing" touched Rs.1,393.07 crore, up by 33 percent from the Rs.1,047.73 crore last year.
Income from "Retail & Distribution" was Rs.2,205.86 crore, higher by 33 percent than the Rs.1,662.88 crore in Q4FY12, whereas income from "Telecom, Media & Entertainment" grew by 16 percent to Rs.1,871.96 crore from the Rs.1,608.29 crore last year. Income from "Others" totaled Rs.3,806.50 crore, compared with Rs.3,342.94 crore in the previous year.
For the fiscal year, its consolidated net profit, after minority interest, was Rs.13,917.31 crore, compared with Rs.10,413.49 crore last year, an increase of 34 percent.
For the year, total income from "Operations" increased by 29 percent to Rs.62,989.48 crore from the Rs.48,893.83 crore last year, while other income totaled Rs.1,178.23 crore, compared with Rs.428.17 crore in 2012.
There was a net addition of 37,613 employees, taking the total count to 276,196 as at the end of last month. The company's attrition rate in the fiscal was 10.6 percent.
Stand-alone Results
For the fourth-quarter, TCS's stand-alone net profit was Rs.3,014.78 crore or Rs.15.37 per share, up by 18 percent from the Rs.2,558.34 crore or Rs.12.99 per share in the year-ago quarter. Total income, including other income, rose by 26 percent to Rs.13,102.95 crore from the Rs.10,414.37 crore a year ago.
For the full year, TCS's stand-alone net profit was Rs.12,786.34 crore, up by 16 percent from the Rs.10,975.98 crore in 2012. Total income, including other income, rose to Rs.50,656.53 crore from the Rs.40,789.41 crore a year ago, a growth of 24 percent.
The company's Board recommended a final dividend of Rs.13 per equity share of Re.1 each for the fiscal year 2013. It also recommended a dividend of Re.0.19 to Redeemable Preference Shares of Re.1 each for the fiscal year 2013.
Chief Executive Officer & Managing Director N. Chandrasekaran said, "TCS has delivered a year of strong growth with all markets and industry segments growing in double digits. Our ability to co-create with customers, remain relevant to their business and our investments in digital technologies are delivering tangible value as customers optimize, transform and grow."
Looking ahead, he added, "We remain confident that 2013-14 will bring greater opportunities as technology plays an increasing role in reimagining business globally. We continue to identify new growth engines and are investing ahead of the curve in products, platforms and intellectual property that is of great relevance to our customers and their business growth. As an industry leader, we remain focused on sustaining our momentum."
At the BSE, TCS closed Wednesday's trading at Rs.1,459.20, down Rs.25.65 or 1.73 percent on a volume of 348,000 shares.
For comments and feedback: editorial@rttnews.com