TCS Q4 US GAAP net at Rs 1931cr, bags 10 large deals

TCS' management team said at a press conference held in Mumbai that cost cuts and efficient treasury management helped the company improve margins.
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Home » News » Earnings » Results- Company Press Conference

Apr 20, 2010, 09.17 AM | Source: CNBC-TV18

TCS Q4 US GAAP net at Rs 1931cr, bags 10 large deals

TCS' management team said at a press conference held in Mumbai that cost cuts and efficient treasury management helped the company improve margins.

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TCS Q4 US GAAP net at Rs 1931cr, bags 10 large deals

TCS' management team said at a press conference held in Mumbai that cost cuts and efficient treasury management helped the company improve margins.

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Tata Consultancy Services has posted a Q4 net profit and revenues of Rs 1,931 crore and Rs 7,737 crore respectively. Its operating profit was up 1.88% quarter-on-quarter (QoQ) at Rs 2,128 crore. The company's FY10 net profit stands at Rs 6,873 crore. These figures are as per US GAAP accounting standards.

Speaking at a press conference to announce the company's results, the company's management said cost cuts and efficient treasury management helped to improve margins.

Employees & wages:

Gross employee additions in the fourth quarter touched 16,851. Attrition rate stood at 11.8% for India's largest software firm. The management said 20,000 campus offers were made for FY11.

The quarterly variable payout came in at 125%. The management stated that average wage hikes of 10% were given to off-shore employees while wage hikes of 2-10% were given across emerging markets. The wage hikes are to be effective by April 1.

Deal pipeline:

TCS bagged 10 large deals in Q4 and added 39 new clients. The company's management sees the deal pipeline as 'significant' in the quarters ahead. "Tremendous momentum in all verticals going ahead with BFSI, retail, and life sciences in particular expected to lead the growth. We also see recovery happening in telecom and manufacturing verticals going forward." They stated that transformation deals are being handed out in phases.

On pricing:

The management said pricing remains flat to a marginally higher. "We expect to see a pricing increase in latter half of FY11."

On utilization:

The utilization rate stands at 74.3% including trainees.

On earnings:

The company sees earnings per share of Rs 10.15 in Q4, up from Rs 9.3 in Q3. Volume growth currently stands at 17%. The management said this quarter marks the turning around of the economic recovery cycle for TCS.

To catch the complete press conference watch videos...

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TCS Q4 US GAAP net at Rs 1931cr, bags 10 large deals
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