TCS Q1 net jumps 27% to Rs 2,415 cr

Tata Consultancy Services (TCS), the country's largest software company, today posted 26.7% rise in its consolidated net profit at Rs 2,415 crore for the first quarter ended June 30, 2011.

The revenue grew by 31.4% to Rs 10,797 crore for the period under review, TCS said in a statement.

However, sequentially the profit has declined as the company had posted Rs 2,623 crore profit in the last quarter of the previous fiscal.

"Our customer-focused organisation and balanced business model helped us drive growth across all our major customers segments and operating regions in the first quarter," TCS Chief Executive Officer N Chandrasekaran said here.

The company posted its earnings as per IFRS rules for the first time, moving away from US accounting standards.

The board has proposed a dividend of Rs 3 a piece on shares of the face value of Re 1.

"Tough we continue to see a steady demand for our services, the uncertain global macro economic environment demands that we adopt an entrepreneurial approach and remain agile to capture the growth opportunities as they emerge," Chandrasekaran added.

During the June quarter, the software exporter added 3,576, taking the total headcount to 2,02,190 as on June 30.

The company during the quarter added 24 new clients.

TCS shares closed at Rs 1,125.25 on the BSE, down 2.23% from its previous close today.