TCS Q2 net up 6% to Rs 2,301 cr

Tata Consultancy Services (TCS), the country's largest software firm, today said its consolidated net profit grew 6% to Rs 2,301 crore for the second quarter ended September 30, 2011.

As per Indian accounting norms, the company had a consolidated net profit of Rs 2,169 crore in the same period last fiscal, TCS said in a filing to the Bombay Stock Exchange (BSE).

Consolidated revenues of the company increased 25.27% to Rs 11,633 crore for the quarter under review from Rs 9,286 crore.

The company's board proposed an interim dividend of Rs 3 per equity share. TCS saw the gross addition of 20,349 employees during the quarter, while net additions amounted to 12,580.

The company added 35 clients in second quarter.

For the six-month period ended September 30, consolidated net profit rose to Rs 4,715 crore from Rs 4,075 crore in the same period previous year.

Revenues jumped to Rs 22,430 crore in the six-month period under review from Rs 17,503 crore during the same time last fiscal.

At the end of September 30, 2011, cash and bank balance of the company stood at Rs 7,036.79 crore.

Shares of TCS today closed at Rs 1,119.80 on the BSE, down 1.30% from the previous close.