Tata Consultancy Services Ltd, the country's biggest software services exporter, reported record turnover of Rs27,813 crore ($6 billion) – a 23 per cent rise year-on-year - and a 29 per cent rise in net profit at Rs6,577 crore ($1.4 billion) for the financial year April 2008-March 2009.

The company declared a final dividend of Rs5 per share, taking the final dividend, including the Rs14 interim dividend to 26 per cent. The board of directors have recommended a 1:1 bonus.

For the fourth quarter of the financial year (January-March 2009) TCS reported a 4.6 per cent rise in profit, amidst a squeeze on technology spend caused by the global economic downturn.

Net profit in January-March rose 7 per cent to Rs1,314 crore ($261 million) from Rs1,256 crore reported a year ago (under US accounting rules). In contrast, rival Infosys Technologies last week beat market expectations with a 29 per cent jump in quarterly profit, but forecast a decline in annual revenue.

Sales volume rose 18 per cent amidst tough economic climate while a strong overseas shift helped operating margins to soar 102 per cent in the year.

During the year, the company received 28 large deals and added 163 new clients. Clients above the $50 million band increased from 19 in 2007-08 to 24 in 2008-09.

TCS's income from retail segment rose to $500 million even as the company acquired Citigrou's BPO business in India for $512 million.

Its North American business grew 26 per cent to $3 billion while business in Continental Europe rose 39 per cent. Revenue in new growth markets, including Latin America, APAC and MEA, grew 16 per cent to cross $650 million.

The booming outsourcing business in India has been hit by the turmoil in global markets and a recession in the United States, which accounts for more than half the sector's revenue.

Ahead of the announcement, shares in Tata Consultancy, which provides services such as consulting, system integration and back-office outsourcing, ended down 2.2 per cent to Rs560.40 in Mumbai market.