Tata Consultancy Services (TCS), India's leading IT services, consulting and business solutions company, has reported a 10.4 per cent year-on-year increase in its fiscal fourth quarter (January-March 2012) net profit at Rs2,895 crore, compared with Rs2,622.93 crore during the same period a year ago.

Consolidated financial results of the company released today showed a 15 per cent increase in its net profit at for the 2011-12 financial year at Rs13,357.95 crore, up from Rs10,401.07 crore posted during the same period a year ago, TCS said in a statement.

TCS also became the first Indian IT company to cross the $10 billion milestone posting annual revenues of $10.17 billion. Total revenues for the year rose 31 per cent to Rs48,894 crore ($10.17 billion).

''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,''  TCS MD and CEO N Chandrasekaran said.

TCS expects a balanced growth across sectors and markets it operates in, given its holistic portfolio of services, which are now achieving significant scale across markets.

''We have grown very well during 2011-12 and also been able to exit the year at the right margin levels, despite the marked increase in volatility during the past 12 months,'' S Mahalingam, chief financial officer and executive director of TCS, said,