Tata Consultancy Services, the leading IT services, business solutions and outsourcing firm reported its consolidated financial results according to Indian GAAP for the quarter and financial year ended March 31, 2010.The company reports forth quarter (Q4) Net Profit at Rs 2,001 cr. which is up by 50.1 percent.
‘Attrition rates continued to be stable at 11.8% on a LTM basis. Overseas nationals formed over 10,700 or 6.7% of the total employee base with employees from 80 different nationalities. The average age of a TCS employee is 28 yrs; 57% of the workforce has more than 3 yrs experience; and 30% of our workforce are women.’
Highlights for Fourth Quarter 2009-10:
- Q4 Revenues at Rs 7,738 crore up 7.9% Y-on-Y and 1.17% Q-on-Q
- Volume Growth at 4.0%
- Operating Profits at Rs 2,165 crore up 29.1 % Y-on-Y; 3.0% Q-on-Q; OPM up 51 bp sequentially at 28.0%
- Net Profits at Rs 2,001 crore up 50.1 % Y-on-Y and 9.7% Q-on-Q; Net margin up 201 bp sequentially at 25.9%
- Largest ever organic gross addition of 16,851 professionals in Q4
- Net addition of 10,775 employees
- Attrition rate at 11.8 % LTM
- Utlisation Rate (excl trainees): 81.8 %
- Utlisation Rate (incl trainees): 74.3 %
- EPS at Rs. 10.15 in Q4 from Rs. 9.3 in Q3
Highlights for Financial Year 2009-10:
Shareholder Highlights
- FY10 EPS at Rs 35.67
- Total FY10 Dividend at Rs 20 per share including Rs 4 as Final Dividend and Rs 10 per share as Special Dividend (proposed)
- Total Dividend Payout Ratio at 65.6%
Business Highlights:
- Volume growth at 17%
- FY10 Operating Profits at Rs 8,018 cr up 21.91%; Operating Margins up 304 basis points at 26.7%
- Net Profits at Rs 7,001 crore up 33%; Net Margin up 441 basis points at 23.3%
- Gross addition of 38,063 professionals; net addition of 16,668 professionals
- Total employee strength: 160,429
Commenting on the stellar performance in 2009-10 Mr N. Chandrasekaran, CEO and MD said, “Our ability to react to growth opportunities and execute efficiently has helped TCS deliver a superior performance for the fourth successive quarter. Our volumes have grown and our margins are at near historic highs.”
“Strong volume growth of 17 per cent during the year has rounded off an exceptional year for TCS. Our sales and execution machine is primed and we have laid a solid platform for growth. There is significant traction for our strategy of full services which together with our global engagement model positions us well for accelerated growth.” Mr Chandrasekaran added.
“In FY10, we have been through an entire business cycle where controlled hiring in the first two quarters gave way to rapid recruitment in the last two quarters. We have made 20,000 campus offers for FY 11,” said Ajoy Mukherjee, Vice President, Head, Global Human Resources.
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