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.
Puravankara Projects' consolidated net profit jumped 71% to Rs 79 crore on 79% growth in revenue to Rs 416 crore in Q4 March 2013 over Q4 March 2012. Earnings before interest, taxation, depreciation and amortization (EBITDA) jumped 49% to Rs 178 crore in Q4 March 2013 over Q4 March 2012. The company said no land parcel was monetized in Q4 March 2013.
Lupin said at the fag end of the trading session on Wednesday, 17 April 2013, that the US Court of Appeals for the Federal Circuit has ruled in its favor regarding its appeal of a previous judgment by a lower court for Bayer AG's Yaz oral contraceptive product. Lupin is currently seeking approval from the USFDA for its generic and is working out its commercialization plan. Lupin's Generic Drospirenone and Ethinyl Estradiol Tablets (3 mg + 0.02 mg) of Bayer AG's Yaz tablets are indicated for prevention of pregnancy, to treat the symptoms of premenstrual dysphoric disorder (PMDD) for women and to treat moderate acne for women at least 14 years old only if the patient desires an oral contraceptive for birth control. The total sales for branded and generic sales for the product stood at $361 million (IMS MAT Dec 2012).
Sasken Communication Technologies after trading hours on Wednesday, 17 April 2013, said that as per the terms of the Public Announcement dated 24 April 2012, the buy back offer will be closed with effect from the close of market hours on 22 April 2013. As on 16 April 2013, the company has purchased 52.42 lakh shares, constituting 90.38% of the total buyback offer size.
Gayatri Projects said that its subsidiary, TPCIL, has executed a power purchase agreement with Andhra Pradesh Power Distribution Companies, wholly-owned by the government of Andhra Pradesh, for supply of 500 megawatts (MW) of competitive power to the central, eastern, southern and northern power distribution companies of Andhra Pradesh for a period of 25 years. This green field project within the state makes the transmission more convenient and the use of super critical technology is a value addition as this technology enhances efficiency, thereby reducing emission of carbon dioxide and other pollutants, making it more eco-friendly. As such, the plant, located in southern India (Krishnapatnam), will play an essential role in helping to mitigate Power shortage in the State of Andhra Pradesh when it commences operation.
Elecon Engineering Company said that the management committee of the board took note of the scheme of arrangement duly approved by the Gujarat High Court. The committee also allotted new equity shares to the promoters of Prayas Engineering and Emtici Engineering pursuant to the scheme of arrangement approved by the Gujarat High Court.
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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