Tata Consultancy Services (TCS) has beaten estimates, a rising rupee, and a traditionally weak third quarter to post a record $1.1 billion in revenues for the quarter ended December 30, 2006, the highest by an Indian software firm. The country’s largest software company also registered the highest profits for any single quarter at $252 million. It has announced a dividend of Rs 3 per share.
In rupee terms, net profit jumped 45% to Rs 1,116 crore on a revenue growth of 41% at Rs 4,873 crore. Expectations for net profit and revenue were in the range of Rs 1,074 crore and Rs 4,774.5 crore, respectively. During April to December, revenues crossed the $3 billion mark to Rs 13,523 crore.
The TCS stock moved up almost 2% in the morning, but then declined and finally ended the day 0.18% higher over the previous day’s close. Over the last five days, the stock has outperformed Sensex by about 4% and the Infosys stock by about 5%.
Read More @ Economic Times (17 Jan ’07)
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