TCS Q4 revenues jump 30.5% YoY to Rs 13,259.3 cr

By Reema Tendulkar, Research Analyst at CNBC-TV18

India's top software services exporter Tata Consultancy Services reported consolidated net profit for January-March quarter at Rs 2,932.4 crore, a growth of 23% year-on-year and 1.6% sequentially. Its total income from operations for the fourth quarter increased 0.5% quarter-on-quarter and 30.5% year-on-year to Rs 13,259.3 crore. Analysts on average had expected TCS to report a net profit of Rs 2,837 crore on revenue of Rs 13,195 crore, according to a CNBC-TV18 poll. However, EBIT (earnings before interest, taxes) margin for the fourth quarter declined to 27.7% from 29.24% in the Oct-Dec quarter. The company said pricing has improved 1.3% year-on-year, while volumes rose 4.9% in Jan-March. TCS' full year (2011-12) revenue crossed USD 10 billion and he also expects FY13 will be a normal year as far as growth is concerned. TCS plans to hire 50,000 employees in fiscal 2013 and said it is going ahead with an average 8% wage hike in India. Watch video for more information...