TCS posts Rs 2,623 cr net in Q4, up 31 pc

largest software exporter in India Tata Consultancy Services (TCS) on Thursday reported a jump of 31 percent of its net profit to Rs 2.623 million rupees for the quarter ended March 31, 2011. The main software attributed the jump in its net profits to the growing demand for outsourcing services to clients in the West.

During the financial year 2010-11, TCS recorded 29.5 per cent jump in its consolidated turnover of rs 9,068 crore in FY11 from the 7000 r crore in FY10. Turnover grew by 24.3 per cent of R 37,324.51 crore in FY11 from R 30,028.92 crore in FY10.

The company added 38, 185 new employees, taking the total strength of the company at 198, 614 during FY11. During the fourth quarter, added 11,700 company employees and attrition of 14.4 percent.

"Excellent performance and continued focus on customers, TCS has helped to round up the sterling performance in FY11 with strong growth in the fourth quarter, while maintaining margins to record levels," said N.Chandrasekaran, CEO and MD, TCS.

Moreover, he said: "Market demand is still strong there are opportunities in different markets and industries we will continue to shape the new technologies, investing in new areas such as mobility, analysis, social media and sustainability solutions...

Major Clients of TCS include Citigroup, General Electric, British Airways and Sony Corp.