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TCS meets expectations, logs 22% Q4 profit hike

Helped by all-round business growth, the country's largest software exporter and IT-services provider company  Tata Consultancy Services (TCS) on Wednesday reported a 22.1 per cent jump in net profit to Rs 3,596.9 crore for the March quarter, meeting expectations. The company's net profit stood at Rs 2,945.5 crore reported in the same period a year ago.

Revenue for the fourth quarter ended 31 March, 2013 grew by 23.9 per cent to Rs 16,430.1 crore as against Rs 13,259.3 crore in the year ago period, according to the IFRS reporting. Announcing the robust numbers, Tata Consultancy Services managing director and chief executive N Chandrasekaran said, 'We have delivered a year of strong growth with all markets and industry segments growing in double digits.

'We remain confident that the new fiscal will bring greater opportunities as technology plays  an increasing role in reimagining businesses globally,' he added. TCS  as a policy does not  offer guidance. It said its  net profit margin stood   at 21.9 per cent while   operating margin rose  to 26.5 per  cent in the reporting quarter.

'Tata Consultancy Services Quarter four  net profit came in line with expectations... Its  services outlook for financial year 2013-14 is better than that for 2012-13 with a good numbers of  deals in the pipeline and strong performance expected across sectors,' said Gautam Sinha Roy, Vice President Equities, Motilal Oswal Securities Ltd.

For the full fiscal, net profit increased by 30.9 per cent to Rs 13,941.4 crore compared to Rs 10,651.7 crore in the previous fiscal (2011-12). The total revenue for the year jumped 28.8 per cent at Rs 62,989.5 crore from Rs 48,893.8 crore last year.

Tata Consultancy Services’ shares closed 1.73 per cent down at Rs 1,459.20 apiece on the Bombay Stock Exchange (BSE).
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