TCS net profit up by 23%, revenue 30% | business | Hindustan Times
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TCS net profit up by 23%, revenue 30%

Tata Consultancy Services (TCS), India’s largest IT company, reported 23% growth in net profit (at Rs. 2,932 crore) and 30% growth in revenue at (Rs. 13,259 crore) for the January-March quarter on a year-on-year basis.

business Updated: Apr 24, 2012 00:17 IST
HT Correspondent

Tata Consultancy Services (TCS), India’s largest IT company, reported 23% growth in net profit (at Rs. 2,932 crore) and 30% growth in revenue at (Rs. 13,259 crore) for the January-March quarter on a year-on-year basis. Sequentially, the revenue and profit grew marginally.

TCS's revenue for the financial year 2011-12 was Rs. 48,894 crore. It thus became the first Indian IT company to cross an annual revenue mark of $10 billion. Its profit for the fiscal was Rs. 10,638 crore.

The company gave a better outlook for the year ahead than its rival Infosys, which announced its results earlier.

About the year ahead and business from key markets such as US and Europe, N Chandrasekharan, CEO & MD, said, "We see a good year. Decisions are happening (by clients to sign IT deals) and there is an easing on spending."

Top executives of the company said it will add 50,000 employees in the current financial year and announced an average hike of 8% for the existing employees. The company has 2,38,500 employees worldwide.