Cyrus Mistry's Tata Consultancy Services to turn corruption killer with e-governance projects

Jun 28 2014, 15:18 IST
Comments 0
Cyrus P Mistry, Chairman of Tata Sons with N Chadrasekaran, CEO and Managing Director of Tata Consultancy Services during the Annual General Meeting of the company in Mumbai. PTI Cyrus P Mistry, Chairman of Tata Sons with N Chadrasekaran, CEO and Managing Director of Tata Consultancy Services during the Annual General Meeting of the company in Mumbai. PTI
SummaryFrom fighting corruption to safety app for 'lady staff', Cyrus Mistry holds forth at TCS AGM.

India's largest software services firm Tata Consultancy Services (TCS) is working on projects of e-governance, which can help in checking corruption, Chairman Cyrus Mistry said today.

Cyrus Mistry, who is also Chairman of the over USD 100-billion Tata Group, told shareholders at the 19th Annual General Meeting of TCS here that the company is looking into the appointment of a woman director on its board.

"TCS is involved in a number of e-governance projects in India and abroad. They can help curb corruption," he told shareholders here.

He added that the city-headquartered firm will take up the issue of setting up new research and development (R&D) centres when the business requirement happens.

On appointment of woman director, he said: "The nomination committee is looking into the appointment of a lady director."

The Companies Act, 2013, which came into effect in April, 2014, prescribes that every listed firm and every public company with a paid-up share capital of Rs 100 crore and above or turnover of Rs 300 crore and above should appoint at least one woman director.

Cyrus Mistry told the shareholders: "We have developed a safety app for ensuring safety of our lady employees."

TCS's CSR expenditure has gone up to Rs 93 crore, he said. "We've to do a lot more in that area (CSR)," he added.

TCS posted a industry-leading results in 2013-14 fiscal with a record consolidated revenue of Rs 81,809 crore (up 29.9 per cent) and net profit of Rs 19,164 (up 37.7 per cent).

For the January-March 2013-14 quarter, it reported a 48.2 per cent jump in consolidated net profit to Rs 5,357.6 against Rs 3,615.64 crore a year earlier.

Consolidated revenue for the quarter was up 31.2 per cent to Rs 21,551.09 crore from Rs 16,430.09 crore in the year-ago period. The results are on India GAAP basis.

It added a net 9,751 employees in the fourth quarter and a net 24,268 employees during the entire financial year to take its head count to 300,464.

Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...