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A ' stronger' FY15 after strong FY14 [Mail Today (India)]
[April 17, 2014]

A ' stronger' FY15 after strong FY14 [Mail Today (India)]


(Mail Today (India) Via Acquire Media NewsEdge) TATA Consultancy Services expects a stronger FY15 banking on clients, deal closures and order book. After reporting 51.5- per cent rise ( yearon- year) in net profit at `5,297 crore for the fourth quarter ended March 2014 helped by growth in Europe and APAC and investment in digital technologies, the country's largest software company expects further rise in revenue growth this fiscal.



"Overall, if you look at what clients are telling us, you look at the deal pipeline, deal closures, order book and the sentiment ... we believe that FY15 will be a stronger year than FY14,"chief executive officer and managing director N. Chandrasekaran told reporters here. TCS, which posted almost 30- per cent rise in revenue in the last fiscal, is betting on higher IT spending by its clients in financial services, retail and life sciences sectors to boost growth, Chandrasekaran said.

The Q4 net profit compares with the average forecast of `5,198 crore given by 23 analysts, according to Thomson Reuters I/ B/ E/ S Estimates. TCS had posted net profit of `3,615.64 crore a year earlier, it said in a filing with the Bombay Stock Exchange. It reported revenues of `21,551 crore, up 31.2 per cent year- onyear.


Consolidated profit for FY14 was up 37.69 per cent to `19,163.87 crore while revenue rose 29.87 per cent to `81,809 crore.

TCS added a net 9,751 employees in the fourth quarter and a net 24,268 employees during the entire financial year to take its head count to 300,464. Europe led growth in major markets while the UK and North America continue to grow in line with the company average. TCS signed nine large deals across verticals.

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