Tata Consultancy Services (TCS) has reported a 10% fall in net
profits for the year despite a record turnover.
Net profits fell by 10.1% to £1.12bn despite a 23% jump in year
on year revenues to $6bn.
"In an unpredictable operating environment, TCS delivered
healthy topline growth of 23% and crossed the $6 billion milestone
in revenues, " said. S Ramadorai, TCS CEO and managing
director.
"By focusing on operational efficiencies, collecting cash more
efficiently and driving an enterprise-wide cost control programme,
we have improved our profit margins and continue to generate
significant cash-flows."
The company said its UK business experienced good growth despite
weaknesses in the telecoms sector, with a number of full-services
deals in the retail sector.
