Tata Consultancy Services Ltd (TCS) has reported a
year-on-year increase of 51.8 per cent in net profit
(excluding exceptional items) and a 43.5 per cent
increase in consolidated revenues for the quarter
ended September 30, 2004, under US GAAP.
into consideration the exceptional items, consisting
mainly of a one-time charge of Rs186.56 crore on the
employee stock option scheme, the growth in the Q2
net profit is only marginal.
company''s annual comparative growth figures for its
first quarterly results since its initial public offer
were provided under US GAAP.
results under Indian GAAP would not be comparable
with the previous comparaitive period since TCS was
then a division of Tata Sons, say officials.
productivity, controlling of costs and high market
penetration," have been responsible for the growth
of the company''s business during the quarter, said
S. Ramadorai, managing director and CEO of TCS, at
a press conference here yesterday.
half-year revenues for the fiscal stood at Rs4,630
crore, crossing the $1billion-figure, a landmark for
the company, which made its initial public offer in
August, said officials.
Net profit for the quarter ended September 30, 2004,
rose to Rs576 crore, (excluding exceptional items)
up from Rs379 crore reported for the corresponding
profit grew 14.1 per cent over the immediate previous
quarter. Revenues under US GAAP rose to Rs2,430 crore,
up from Rs1,693 crore during the previous corresponding
gross margin stood at 45 per cent, operating margin
at 27.47 per cent, and net margin at 23.71 per cent.
"Our margins show an exceptional performance
by any benchmark," said Ramadorai.
Indian GAAP, the company reported a net profit of
Rs342 crore for the quarter, excluding exceptional
items, and revenues of Rs2,044 crore.