Tata Consultancy Services (TCS), India?s largest software company, on Monday said its PAT for the fiscal ended March 2008 stood at Rs 5,026 crore, up 19.31% y-on-y. Total revenues for the fiscal stood at Rs 22,863 crore, up 22.36%.
EPS for fiscal 2008 was Rs 51.36, compared with Rs 43.05 in FY07. The company declared a dividend of Rs 14 per share, and a payout ratio of 27%. The full services and global network delivery model has paid rich dividends, TCS said.
For the fourth quarter ended March 2008, total revenues stood at Rs 6,098 crore, up 18.13% y-on-y and 2.95% Q-on-Q. Net profit for the period stood at Rs 1,245 crore, up 4.15% y-on-y, but was down 6.17% Q-on-Q.
N Chandrasekaran, COO & executive director, TCS, said, ?The decline in the quarter profits is due to delays in projects and expected ramp-ups in the financial services in the US by a few specific clients.?
He further added that the pricing with existing clients was largely stable. In a bid to continue long-term relationships with existing clients going through difficult periods, the firm would enter into partnerships.
EPS for the quarter stood at Rs. 12.72 in Q4, compared with Rs 13.56 in Q3. TCS added 53 new clients in the quarter, added 3,299 new employees and closed six $50-million-plus deals. The company?s forex hedging gains in FY08 were worth Rs 137 crore.
S Ramadorai, CEO & MD, said, ?Our full-year results reflect a validation of our strategy and robust business model that has helped us deliver strong growth rates again on an ever increasing base and in a difficult and challenging environment.?
TCS stock was marginally down 0.83% on the BSE to close at Rs 992.55 on Monday.