TCS Q1 net jumps 7%

In line with market expectations, India's largest IT services provider Tata Consultancy Services (TCS) reported a growth rate of 7 per cent in its consolidated net profit (Indian GAAP) to touch Rs 1,291 crore in the first quarter ended June 30, 2008, against Rs 1,203 crore during the same period last financial year. Its revenue grew 24 per cent to Rs 6,411 crore in Q1.

Compared to the trailing quarter (QoQ), TCS' revenue grew 6 per cent, while profit after tax (PAT) grew 4 per cent. Its earnings per share (EPS) stood at Rs 13.9.

APRIL-JUNE IN NUMBERS
June 30 (Rs cr) YoY growth
(%) QoQ growth
(%)
2008 2007
Revenue 6411 5157 24 6
PAT 1291 1203 7 4
Note: Indian GAAP figures

However, unlike Infosys, the company could not take much advantage of a falling rupee since it had hedged over $2 billion (it has hedged $2 billion this quarter too).