TCS profit jumps 37.4 percent in April-June quarter

Mumbai, July 12 (IANS) Tata Consultancy Services, the country's largest software services exporter, Thursday announced a 37.4 percent rise in net profit for the quarter ended June 30, 2012, helped by increased demand for outsourcing and a weaker rupee.

The company's net profit grew by 37.4 percent to Rs.3,318 crore in the first quarter of the current financial year on year-on-year basis. The company's profit has increased 14.6 percent quarter-on-quarter.

TCS revenue during the April-June quarter jumped by 37.7 percent to Rs.14,869 crore.

"We have seen strong secular growth across all our service lines and industry segments driven by robust volumes from key markets like North America, Europe and UK," TCS chief executive officer and managing director N. Chandrasekaran said in a statement.

Chandrasekaran said the company was hopeful to maintain high growth momentum in the coming quarters.

"Looking ahead, TCS continues to see good demand from global corporations as they successfully navigate an increasingly complex environment," he said.

"Our investment in new technologies and platforms are bearing fruit with increasing market traction and we are confident of playing a pivotal role in our customers' future business evolution," he added.

The TCS board of directors at a meeting held Thursday approved an interim dividend of Rs.3 per equity share of Rs.1 each. The dividend will be paid to shareholders Aug 7, 2012.

TCS shares price fell 1.80 percent to Rs.1,236.10 at the Bombay Stock Exchange Thursday. The results were announced after the market closed.