Thursday, 16 April 2015

TCS Q4 net profit at Rs 37.12 billion

Tata Consultancy Services (TCS),, a leading IT services, consulting and business solutions firm reported its consolidated financial results according to IFRS for the quarter and financial year ended March 31, 2015.

TCS net profit dipped over 30% for quarter ended March 31, 2015 due to special bonus paid to employees and cross currency-movements besides the overall weakness in key sectors.

Company posted a net profit of Rs. 37126.70 million for the quarter ended March 31, 2015 as compared to Rs. 53576.10 million for the quarter ended March 31, 2014.

Total Income has increased from Rs. 222719.80 million for the quarter ended March 31, 2014 to Rs. 253559.80 million for the quarter ended March 31, 2015.

TCS has posted a net profit of Rs. 198521.80 million for the year ended March 31, 2015 as compared to Rs. 191638.70 million for the year ended March 31, 2014.

Total Income has increased from Rs. 834461.00 million for the year ended March 31, 2014 to Rs. 978783.20 million for the year ended March 31, 2015.

Company announced that the Board of Directors of the Company at its meeting held on April 16, 2015, inter alia, have recommended a Final Dividend of Rs. 24 per Equity Share of Rs. 1 each of the Company which shall be paid on the seventh day from the conclusion of the Annual General Meeting subject to approval of the shareholders of the Company.

There was holistic growth across markets and industries during the financial year. Europe led growth in major markets, while UK and North America continue to grow in line with the company average. All major industry verticals grew in double digits led by Retail, Manufacturing, Life Sciences & Healthcare and BFSI during FY15. 

TCS announces one-time bonus worth Rs. 2,628 crore

Tata Consultancy Services, (TCS), a leading IT services, consulting and business solutions organization, announced today that it will pay employees a Special Reward or one-time bonus to mark the 10th anniversary of the company’s initial public offering in 2004.

Globally all employees who have completed at least one year of service will be eligible for the special bonus payment. Each employee will be given a reward equivalent to one week’s salary for every year of service completed at TCS.

For the company, the total consideration for this Special Reward to employees to mark ten years of listing on India’s largest stock exchanges will be Rs 2,628 crore.

TCS announces special reward for employees to mark 10th anniversary of IPO

Tata Consultancy Services announced today that it will pay employees a Special Reward or one-time bonus to mark the 10th anniversary of the company’s initial public offering in 2004.

Globally all employees who have completed at least one year of service will be eligible for the special bonus payment. Each employee will be given a reward equivalent to one week’s salary for every year of service completed at TCS. For the company, the total consideration for this Special Reward to employees to mark ten years of listing on India’s largest stock exchanges will be Rs 2,628 crore.

TCS went public in August 2004 listing its shares on the Bombay Stock Exchange and the National Stock Exchange. It has since become the company with the highest market capitalization in the Indian stock market.

TCS to announce FY15 results today

Tata Consultancy Services Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 16, 2015 to:
  • approve and take on record the audited financial results of the Company for the year ended March 31, 2015.
  • approve and take on record the audited consolidated financial results of the Company and its subsidiaries for the year ended March 31, 2015.
  • recommend a Final Dividend, if any, on the Equity Shares of the Company for the year ended March 31, 2015 for the approval of the shareholders at the ensuing Annual General Meeting. 
Q4 is typically a soft quarter for Indian IT companies as client’s freeze their IT budgets for the calendar year and its allocation. TCS is expected to post 3%+ qoq organic constant currency growth in Q4 FY15 

Wednesday, 15 April 2015

IT stocks slump ahead of results

IT stocks led by HCL Technologies ended with deep cuts a day ahead of TCS results. 
HCL Tech plunged 3.6 percent to Rs. 941. Wipro tanked around 3 percent each to Rs. 606. Other major players - Infosys, TCS and Tech Mahindra dropped over a percent each to Rs. 2,218, Rs. 2,619 and Rs. 657, respectively.

Thursday, 9 April 2015

TCS FY15 results on April 16, 2015

Tata Consultancy Services Ltd has announced that a meeting of the Board of Directors of the Company will be held on April 16, 2015, inter alia, to:
  • approve and take on record the audited financial results of the Company for the year ended March 31, 2015.
  • approve and take on record the audited consolidated financial results of the Company and its subsidiaries for the year ended March 31, 2015.
  • recommend a Final Dividend, if any, on the Equity Shares of the Company for the year ended March 31, 2015 for the approval of the shareholders at the ensuing Annual General Meeting.

Tuesday, 7 April 2015

TCS clarifies on acquisition reports

Stock Exchanges had sought clarification from Tata Consultancy Services Ltd with respect to newsflow regarding acquisition of Elitecore.

Tata Consultancy Services Ltd clarified that it is a global company and among the largest in terms of market capitalization. Reaffirming its comment to true and fair disclosure, TCS further said that the company preferred not to comment on the specific news item.