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TCS (Tata Consultancy Services) declared its consolidated financial results for quarter four, announcing a net profit of US $313 million while the total revenues were US $1.52 billion; revenues for the year were US $5.7 billion. All this, inspite of a fairly subdued fourth quarter. TCS also reported a strong growth for the year 2007-08 whereby it reported a net profit of Rs.1,245 crore which is up 4.15% and down by 6.17% as compared to the quarter three results.
For the year 2007-08, TCS reported a profit of Rs.5,026 crore and a 19.31% jump on revenues from Rs.18,685.21 crore to Rs.22,863.39 crore which is about a 22.36% increase. After the board meeting, it was declared that the dividend for the year is at Rs.14 per share while the final dividend is at Rs.5 per share.
The company also bagged 20 deals worth $50 million in the year 2007-08. As far as the growth rate of the new services like BPO, assurance, infrastructure services and consulting is concerned, it was up by a whopping 52% at $1.1 billion. 212 new customers were added by TCS during the whole year apart from opening new development centres at places like Cincinnati (U.S), Mexico and Morocco.
As far as the attrition rate of the company is concerned, the total employee strength was 111,407 with an addition of further 35,672 employees and a net addition of 22,116 employees. As far as the Q4 is concerned, the gross addition to the employee force was 6,921 while the net addition stood at 3,299 employees. TCS also held the honor of being the company which has industry's lowest attrition rate of 12.6%. Another interesting thing to note here is that out of all the employee force, 28% are women. As for hiring new employees, in 2008-09, it made 22,451 campus offers which included 4000 graduates from science stream for its new science-to-software transformation program, named Ignite.
