TCS consolidated net up 36% in Q1

Tata Consultancy Services (TCS) has posted a 36% increase in consolidated net profit at Rs 1,202.93 crore for the first quarter ended June 30, 2007(Q1FY08), as against Rs 882.66 crore in Q1FY07.

According to the release issued by the company to the BSE today, total income for the quarter stood at Rs 5,364.67 crore, where as it was at Rs 4,225.62 crore in Q1FY07.

On a stand-alone basis, the company posted a 35% rise in profit after tax at Rs 1,073.85 crore for Q1FY08, as compared to Rs 796.69 crore in Q1FY07. Total income rose to Rs 4,335.74 crore from Rs 3,432.85 crore in Q1FY07.

Meanwhile, the board of directors of the company, which met today, declared an interim dividend of 300%, that is, Rs 3/- per equity share of Re 1/- each.

Highlights for Quarter Ended June 30, 2007 (Indian GAAP)


·Q-o-Q: Rupee Revenues up 0.8%; Dollar Revenues up 8%
·Q-on-Q: Rupee Net Profits up 0.7%; Dollar Net Profits up 8%
·EPS at Rs 12.29 in Q1
·54 new clients added in Q1
·8,706 employees joined the company in Q1
·Attrition at 11.5% LTM (including BPO)
· Dividend of Rs 3 per share announced
·TCS Financial Solutions – SBU for financial products - launched
·New GDC in Mexico launched


S. Ramadorai, CEO and MD of TCS said: "This quarter has validated the strength of our business model and our ability to respond to the external financial environment and drive growth under challenging circumstances. Despite factoring in wage hikes and an appreciating rupee, we have maintained profitability by great execution, demand creation and strong financial management.”