TCS third quarter net zooms nearly 34 per cent to Rs1,824 crore

Tata Consultancy Services (TCS) reported a 33.9 per cent year-on-year jump in its consolidated fiscal third quarter net profit at Rs1,824 crore. Net profit for the quarter ended 31 December 2009 was also up 11.1 per cent compared with the previous quarter (ended September 2009).

Revenue for the quarter ended December 2009 was up 5.1 per cent year-on-year at Rs7,649 crore in Q3-2009-10 and up 2.9 per cent from the previous quarter, the company said in a release.

TCS said its operating margin increased 126 basis points during the quarter while net margin improved 176 basis points.

The company reported a volume growth of 6.6 per cent sequentially with all-round growth across markets and industries.

TCS declared a quarterly dividend of Rs2 per share, taking the earnings per share in the third quarter to Rs9.30.

"TCS yet again posts high growth and delivers on margin improvements for the third successive quarter in this difficult year. Our investments ahead-of-time in emerging markets, multiple industries and client relationships is reflected in our exemplary performance," TCS CEO and MD, N Chandrasekaran said.