TCS meets street expectations as profit posts 18.26 % jump
17 January 2012
Tata Consultancy Services (TCS), the country's largest software services exporter, posted a 18.26 percent jump in consolidated net profit to Rs 2,802.77 crore for the quarter ended December on the back of weak rupee and helped mainly by growth in Europe.
The Tata group firm's net profit was in line with street expectations.
The company had recorded a net profit of Rs 2,301 crore during the same period a year.
TCS's total income rose 36.63 per cent to Rs13,203.99 crore during the quarter under review, compared with Rs9,663.35 crore reported during the same period a year ago, TCS said in a statement on Tuesday.
''While technology budgets are still being set for next fiscal, there is little doubt that technology is a key resource to help global businesses optimise their operations and fuel growth in the current economic climate," TCS managing director and chief executive officer N. Chandrasekaran said in a statement.
The company said it added 40 new clients, including two with deals worth over $100 million during the quarter.