TCS Q4 net vaults over 22 % to Rs3,597 crore

Tata Consultancy Services (TCS), India's largest information technology company, has reported a net profit of Rs3,595 crore for fiscal fourth quarter - a 22.1 per cent increase year-on-year and a 1.3 per cent increase from the previous quarter.

TCS said revenues for the January-March 2013 quarter rose 23.9 per cent to Rs16,430 crore year-on-year and 2.2 per cent quarter-on-quarter.

While TCS' financials matched analysts' expectations, the company said it also expected its revenues to grow faster than the industry rate in the 2013-14 fiscal as well.

TCS, the country's biggest software exporter, reported a 28.8 per cent year-on-year increase in full-year FY'13 revenues at Rs62,989 crore.

Full-year net profit was up 30.9 per cent year-on-year at Rs13,941 crore.

TCS added more $100-million plus contracts during the year, including orders from Nokia and BNP Paribas. The number of such customers went up from 14 in FY12 to 16 this year. In all, the company added 153 new clients during the year, which takes TCS' active client base to 1,156.

TCS added a total of 69,728 employees during the year, taking its strength to 2,76,196 as of 31 March 2013.

The company made gross addition of 69,728 and a net addition of 37,613 to its rolls and reported attrition rate of 9.4 per cent during the January-March 2013 quarter.

"TCS has delivered a year of strong growth with all markets and industry segments growing in double digits," TCS CEO N Chandrasekaran said, adding, "Our ability to co-create with customers, remain relevant to their business and our investments in digital technologies are delivering tangible value as customers optimise, transform and grow."

"We remain confident that 2013-14 will bring greater opportunities as tech plays an increasing role in re-imagining business. We continue to identify new growth engines and are investing ahead of the curve in products, platforms and intellectual property that is of great relevance to our customers and their growth. As an industry leader, we remain focused on sustaining our momentum," said Chandrasekaran.