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TCS bottomline jumps 47% in FY04

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Our Corporate Bureau Mumbai
Last Updated : Feb 06 2013 | 9:56 AM IST
Tata Consultancy Services, the software division of Tata Sons, the holding company of the Rs 52,000 crore Tata group, has reported a 47 per cent rise in net profit at Rs 1,612.4 crore for the year ended March 31, 2004, against Rs 1,093.9 crore in 2002-03.
 
Total income for the reporting year rose to Rs 7,122.7 crore from Rs 5517.8 crore in FY03, TCS said in its public offer prospectus filed with the Sebi.
 
Revenues from consultancy business for FY04 stood at Rs 6,576.5 crore (Rs 5,095.68 crore in FY03). Revenues from sale of equipment and software licences increased to Rs 486.8 crore for the twelve months ended March 31, 2004 (Rs 369.9 crore). Other revenues increased from Rs 52.2 crore to Rs 59.3 crore in FY04.
 
TCS was the first company to cross the $1billion mark in annual revenues in fiscal 2003. The net worth of the TCS division was Rs. 1,781.6 crore, as on March 31, 2004. TCS's total revenues have grown at a compound annual growth rate of 27.7 per cent since fiscal 2002.
 
The Americas segment accounted for 62.3 per cent of its total revenues, of which the US accounted for over 98 per cent. Europe accounted for 19.9 per cent of total revenues, of which UK accounted for 72 per cent. The India segment accounted for 13.2 per cent of TCS's total revenues in fiscal 2004 compared with 14.8 per cent per cent in fiscal 2003.
 
CMC contributed 65.3 per cent and 55.2 per cent of its revenues from the India segment during these periods. During fiscal 2004, it derived 36.2 per cent of its revenues from international business, from its top ten clients in terms of revenues compared with Rs. 1780.9 crore, or 39.4 per cent in fiscal 2003.
 
Of these revenues, companies of the General Electric group contributed Rs1119.5 crore or 18.1 per cent in fiscal 2004 compared with Rs. 930.5 crore or 20.6 per cent in fiscal 2003.
 
During fiscal 2004, TCS added 193 new clients compared with 177 new clients in fiscal 2003.
 
Recent projects won by the company in consortium with PWC, British Telecom and Fujitsu include the UK-based National Health Service's entire IT infrastructure project.
 
TCS has added around 5,000 employees in 2003-04.
 
The attrition rate on the payroll of the TCS Division in India for fiscal 2004 was approximately 6.1 per cent. As part of its growth strategy, in July 2004, TCS acquired 100 per cent of the equity of Phoenix Global Solutions (India).

 
 

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First Published: Jul 21 2004 | 12:00 AM IST

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