TCS (Tata Consultancy Services) 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 says:
-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
