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Country’s largest ITeS firm TCS logs 48.2% Q4 net rise

The country's largest software services firm Tata Consultancy Services (TCS) on Wednesday  reported a 48.2 per cent jump in consolidated net profit to Rs 5,357.6 crore for the quarter ended 31 March, helped by growth in Europe and APAC and investments in digital technologies.
The city-headquartered firm had posted a net profit of Rs 3,615.64 crore a year earlier. Consolidated revenue for the January-March quarter was up 31.2 per cent to Rs 21,551.09 crore from Rs 16,430.09 crore in the year-ago period. The results are on India GAAP basis.

‘We have delivered strong growth and strengthened our competitive positioning in the market. We have maintained our momentum, improved our quality of growth, deepened our relationship with customers and expanded our presence in the newer markets of Europe during the past 12 months,’ TCS CEO N Chandrasekaran said.

The firm's strategic investments, including those in digital technologies, are providing a compelling value proposition as well as helping the company anticipate and shape new market trends successfully, he added. Sequentially, net profit was up 0.5 per cent from Rs 5,333.43 crore in the October-December quarter, while revenue rose 1.2 per cent from Rs 21,293.96 crore.

For 2013-14, net profit was up 37.69 per cent to Rs 19,163.8 crore and revenue grew 29.87 per cent to Rs 81,809 crore.

TCS added a net 9,751 employees in the fourth quarter and a net 24,268 employees during the entire financial year to take its head count to 300,464.  ‘Europe led growth in major markets, while UK and North America continue to grow in line with the company average. All major industry verticals grew in double digits led by retail, manufacturing, life sciences & healthcare and BFSI during FY14,’ TCS Chief Financial Officer Rajesh Gopinathan said. There was holistic growth across markets and industries during the financial year, he added.

‘With business demand continuing to be robust, we have made almost 25,000 fresh offers on engineering campuses for trainees who will join us from the second quarter of the new fiscal year,’ TCS Executive Head Global Human Resources Ajoy Mukherjee said.
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