TCS Q1 net sales up 0.5% to Rs 7,207 cr

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By Raja Rajeshwari, CNBC-TV18

Tata Consultancy Services , TCS, has announced its Q1FY10 numbers. Its Q1 net profit was up 15.65% at Rs 1520 crore as against Rs 1,314.3 crore, QoQ (US GAAP). 

The company's net sales went up just 0.5% to Rs 7,207 crore from Rs 7,171.8 crore, QoQ. 

Operating profit rose 5.26% to Rs 1,789 crore (QoQ). 

In a press conference TCS said:

-Maintained vigour in pricing deals
-Focus on pharma, energy and utility sectors showing result
-Telecom, manufacturing and IT sectors under pressure
-Lower costs, lower forex loss increased dividend in Q1
-Forex hedging loss stood at Rs 85 crore versus Rs 195 crore (QoQ)
-Forex loss to come down further due to less outstanding hedges
-Cost management efforts yielded better margins at 24.83%
-Moved to more offshoring in Q1
-Q1 volume growth stood at 3.54%
-Earnings/share at Rs 7.83 versus Rs 6.59 (YoY)
-Revenue from new clients at 0.3% versus 0.4% (YoY)
-Fresh campus recruitments to start in January 2010