TCS first quarter net rises over 24 per cent to Rs1,906 crore

Tata Consultancy Services Ltd (TCS), India's top software exporter, has posted a 24.25 per cent year-on-year jump in its net after-tax profit, at Rs1,906.07 crore during the quarter ended 30 June 2010 against Rs1,533.94 crore in the similar quarter of the previous year (April-June 2009).

Operating profit of the company grew 24.6 per cent year-on-year and 4.7 per cent on a sequential basis to Rs2,245 crore during the quarter.

Total income from operations of the company rose 14 per cent year-on-year and 6.2 per cent sequentially to Rs8,217 crore during the quarter, from Rs7,206.99 crore in the year-ago period, TCS said in a filing with the Bombay Stock Exchange (BSE).

The company has declared an interim dividend of Rs2 per equity share of Re1 each.

"This has been a quarter of complete outperformance. Our balanced growth was driven by disciplined execution and strong demand across markets and industry sectors.

Our holistic growth across service lines highlights the growing traction among corporations for TCS' full services strategy, chief executive and managing director N Chandrasekaran said, adding, "While we remain alert about changing macro dynamics in many markets, our customer-centric business model is very relevant and helps us participate in the ongoing recovery."