TCS Q1 result: Net profit up 28%

However,sequentially the profit has declined as the company had posted Rs 2,623 crore profit in the last quarter of the previous fiscal.

“Our customer-focused organisation and balanced business model helped us drive growth across all our major customers segments and operating regions in the first quarter,” TCS CEO N Chandrasekaran said here.

The board has proposed a dividend of Rs 3 a piece on shares of the face value of Re 1.

“Tough we continue to see a steady demand for our services,the uncertain global macro economic environment demands that we adopt an entrepreneurial approach and remain agile to capture the growth opportunities as they emerge,” Chandrasekaran added.

During the June quarter,the software exporter added 3,576,taking the total headcount to 2,02,190 as on June 30.

The company during the quarter added 24 new clients. TCS shares closed at Rs 1,125.25 on the BSE,down 2.23 per cent from its previous close,on the Bombay Stock Exchange today.

TCS posts 26.7 pc rise in Q1 profit at Rs 2,415 cr

Reuters copy: Tata Consultancy Services (TCS),India’s largest software services exporter,posted a 28-percent rise in quarterly net profit and beat analysts’ forecasts amid increased demand from western clients.

TCS,a unit of the salt-to-steel conglomerate Tata Group,said on Thursday fiscal first-quarter net profit rose to 23.8 billion rupees ($535 million) in accordance with international financial reporting standards.

The company reported its results as per IFRS rules for the first time,moving away from U.S. accounting standards.

This compares with a Reuters poll forecast for net profit of 22.9 billion rupees under the U.S. accounting standards for TCS,whose major clients include Citigroup , General Electric ,British Airways and Sony Corp .

Shares in TCS,valued at about $50 billion,closed down 2.2 percent at 1,123.70 rupees ahead of the earnings announcement,in a positive Mumbai market.

($1=44.5 rupees)

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