IT major TCS after trading hours on Wednesday, 17 April 2013, said its consolidated net profit rose 1.9% to Rs 3616 crore on 2.2% growth in revenue to Rs 16430 crore in Q4 March 2013 over Q3 December 2012. The company clocked volume growth of 4.4% on sequential basis in the fourth quarter.
Net profit jumped 33.6% to Rs 13917 crore on 28.8% growth in revenue to Rs 62989 crore in the year ended 31 March 2013 (FY 2013) over the year ended 31 March 2012 (FY 2012). The company clocked volume growth of 16.8% in FY 2013 over FY 2012.
TCS said there was balanced growth across markets and industries in FY 2013. All industry verticals grew in double digits in FY 2013, it said. TCS' full service capabilities continue to be leveraged by customers with new service lines growing at a fast pace. The infrastructure services segment grew 47%, Business Process Outsourcing grew 46% while Assurance Services, Enterprise Solutions and Global Consulting grew by 33%, 25% and 52% respectively, TCS said.
Commenting on the FY 2013 results, Mr. N. Chandrasekaran, CEO and MD, TCS, said: TCS has delivered a year of strong growth with all markets and industry segments growing in double digits. Our ability to co-create with customers, remain relevant to their business and our investments in digital technologies are delivering tangible value as customers optimize, transform and growth.
With regard to the outlook for the current year ending 31 March 2014 (FY 2014), Mr. Chandrasekaran said: We remain confident that 2013-14 will bring greater opportunities as technology plays an increasing role in reimagining business globally. We continue to identify new growth engines and are investing ahead of the curve in products, platforms and intellectual property that is of great relevance to our customers and their business growth. As an industry leader, we remain focused on sustaining our momentum.
Rajesh Gopinathan, Chief Financial Officer, TCS, said: Our growth has been well-rounded in FY 2013 and we have endeavored to maintain our profitability despite stiff headwinds and increased volatility through the year. We continue to ensure cost discipline at an operational level while supporting diversified business growth.
IndusInd Bank, CRISIL, Essar Ports, MRF, VST Industries and Wendt India, among others, will declare their January-March 2013 quarter results today, 18 April 2013.
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MIC Electronics said its board has decided to withdraw the proposed issue of 5.06 crore equity share warrants on preferential basis to the promoters and other investors.
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