TCS FY05 net at Rs 1,977cr

Tata Consultancy Services (TCS) reported a consolidated net profit of Rs 1,976.90 crore for the year ended March 31, 2005 as against Rs 6.67 crore in FY04.

According to a release issued by the company to the BSE today, total income stood at Rs 9,824.36 crore for the year ended March 31, 2005 as against Rs 4.29 crore in FY04.

The group reported a consolidated net profit of Rs 471.79 crore for the fourth quarter ended March 31, 2005. Total income stood at Rs 2,561.04 crore in Q4FY05, the release added.

The company, on a stand-alone basis, has posted a net profit of Rs 426.70 crore for the fourth quarter ended March 31, 2005. Total income stood at Rs 2,117.33 crore in the period under review.

The company has posted a net profit of Rs 1,831.42 crore for the year ended March 31, 2005 as against Rs 15.18 crore in FY04. Total income stood at Rs 8,102.58 crore for the year ended March 31, 2005 as against Rs 4.29 crore in FY04.

The board has recommended a final dividend of Rs 5 per equity share of Re 1 each.  "This would be in addition to the first interim dividend of Rs 3 per share and the second interim dividend of Rs 3.50 per share paid during the year," the release added.

The company's wholly-owned subsidiary in Sweden, Tata Consultancy Services Sverige AB, will be acquiring 100% stake in Swedish IT Resources AB (SITAR), a sales and marketing partner of the company in Sweden, the release said.