Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
CO-PRESENTED BY
Tech
»
1-min read

TCS Posts 4.2% Increase in Quarterly Earnings

TCS competitor Infosys released its fourth quarter results to subdued growth last week.

Associated Press

Updated:April 19, 2017, 8:31 AM IST
facebookTwittergoogleskypewhatsapp
TCS Posts 4.2% Increase in Quarterly Earnings
Tata Consultancy Services (TCS).
India's biggest IT sourcing firm Tata Consultancy Services (TCS) reported a 4.2% increase in quarterly earnings on Tuesday, just missing analysts' estimates.

The software giant said net profit for the three months to March 31 rose to 66.08 billion rupees ($1.02 billion) from 63.40 billion rupees for the same period last year.

It was the first quarterly earnings reported under its new chief executive Rajesh Gopinathan, who was appointed in February this year after Tata Group ousted former chairman Cyrus Mistry amid a legal tussle.

On Monday, TCS had approved a 160 billion rupee ($2.4 billion) share repurchase to improve returns for share holders, Bloomberg reported.

The buyback had a direct impact as TCS' shares jumped 6.1 percent on Mumbai's stock exchanges.

"2016-17 was a year of broad-based growth amid economic and political turbulence in our key markets. We added USD 1.4 billion in constant currency revenues during the year," Gopinathan said in a statement.

The company's digital business grew 29% annually to US$3 billion, he added. TCS shares had fallen by nearly a percent in the closing hours of trade.

A Bloomberg survey of analysts had forecast the Mumbai-based company to increase its earnings to 66.54 billion rupees.

India has become a back office to the world as companies largely in developed nations have subcontracted work to firms like TCS, taking advantage of the country's skilled English-speaking workforce.

The flagship industry has made India a top business destination by offering software development and information technology, engineering and design and other services.

TCS competitor Infosys released its fourth quarter results to subdued growth last week.

(Get detailed and live results of each and every seat in the Lok Sabha elections and state Assembly elections in Andhra Pradesh, Odisha, Arunachal Pradesh and Sikkim to know which candidate/party is leading or trailing and to know who has won and who has lost and by what margin. Our one-of-its-kind Election Analytics Centre lets you don a psephologist’s hat and turn into an election expert. Know interesting facts and trivia about the elections and see our informative graphics. Elections = News18)
| Edited by: Krishna Sinha Chaudhury
Read full article
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
 
 

Live TV

Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results