Tata Consultancy Services Ltd, the country''s biggest
software exporter, saw its January-March profit rise
47.4 per cent from a year ago, helped by a slew of large
rose 38.2 per cent to $1.2 billion (€920 million)
during the quarter, taking annual revenues to $4.3 billion
(€3.3 billion). Net profit rose to $270 million
(€207 million) in the January-March period compared
with $183 million in the same quarter a year ago, TCS
said in a statement.
won 12 outsourcing contracts valued at more than $50
million (€38 million) each during the financial
year that ended March.
company is pursuing at least 10 deals valued at more
than $50 million each, chief financial officer S Mahalingam
significant number of large wins ... that will ramp
up during the next fiscal year makes us confident of
continuing sustained, profitable growth," chief
executive S Ramadorai said in the statement.
earnings numbers, which conform to US accounting standards,
were largely in line with expectations. The company
didn''t give any guidance for future revenues and profits.
FY07, TCS recorded a 41 per cent growth in software
revenues at Rs18,685 crore and a 42 per cent jump in
net profit at Rs4,212.63 crore.
robust business model using our full-services play and
global delivery network model have given us pole position
to capitalise on the strong demand environment that
exists globally," Ramadorai said, adding, it has
taken a forex cover of $1 billion.
company is banking on its ability to deliver on large
and complex engagements, cross-selling and on the full-services
model to ramp it up. Of the 12 over-$50 million deals
the company signed in FY07, five involve full-services
play comprising IT, BPO and infrastructure services.
growth business lines such as consulting, BPO, infrastructure
services, and assurance and testing have also gained
critical mass, accounting for 18 per cent of its revenues
or $800 million. TCS added 43 new clients during the
quarter under review and 218 during the full fiscal.
the rupee has firmed up against the US dollar, the company''s
geographical mix with the share of revenue from North
America in FY07 dropping to 52.3 per cent from 56 per
cent a year ago seems to have stood the company in good
stead. Also, its UK market grew from 15.2 per cent to
20.3 per cent. These have made the company less vulnerable
to currency fluctuations than its peers who derive more
than 60 per cent revenue from the US market.