Results - TCS, IFCI, Welspun Guj

Tata Consultancy Q2 net up 26pct, beats forecast
The Economic Times

MUMBAI: Tata Consultancy Services Ltd, India's top software services exporter, posted a 25.7 per cent jump in quarterly profit on Monday, exceeding forecasts, as it won large outsourcing deals and raised fees for customers. The company, part of India's Tata Group that has diverse interests including steel and cars, said net profit in the September quarter rose to 12.47 billion rupees ($317 million) from 9.92 billion a year earlier under US accounting rules.

A poll of 12 brokerages had forecast a net profit of 12.23 billion rupees for Mumbai-based Tata Consultancy, whose leading clients include General Electric and ABN AMRO. Ahead of the announcement, shares in Tata Consultancy, which the market values at $26.6 billion, ended nearly 1 per cent higher at 1,073.65 rupees in a Mumbai market that rose 3.5 per cent to a record close.


TCS Q2 net profit at Rs 1246.9cr from Moneycontrol.Com


Tata Consultancy Services (TCS) has come out with September quarter numbers. The company has reported net profit of Rs 1246.9 crore (Rs 12.47 billion) for the quarter ended September 2008 as against Rs 1,185.5 crore (Rs 11.85 billion) in the previous quarter.
Revenues increased to Rs 5639.8 crore (Rs 56.4 billion) from Rs 5,202.8 crore (Rsr 52.03 billion).
Other income stood at Rs 110 crore (Rs 1.1 billion). Its consolidated operating income was at Rs 1,344 crore (Rs 13.44 billion) (US GAAP).
TCS has added 9,268 employees, 51 new clients in the September quarter of 2008.
The attrition rate in IT services for the quarter ended September 2008 was at 10.9% while in BPO at 17.9%.
Travel, hospitality business contributed 4.4% of September quarter revenue versus 2.8% in previous quarter.
TCS has added 966 employees in overseas arms and branches.


IFCI net jumps four-fold to Rs 497.29 cr
The Economic Times

NEW DELHI: Country's oldest financial institution, IFCI on Monday posted a four-fold jump in net profit at Rs 497.29 crore for the quarter ended September 30, as compared to Rs 115.89 crore in the same period last year. Total income stood increased 81 per cent to Rs 595.60 crore as against Rs 327.4 crore in the year-ago period, the company said here.

For the half yearly period ended September 30, the company recorded a net profit of Rs 744.15 crore as compared to Rs 100.22 crore in the corresponding period last year. Total income stood at Rs 1081.17 crore for the six months ended September 30 as compared to Rs 585.05 crore in the year-ago period. The company, which came out of red last year, had registered net profit of Rs 873.71 crore in 2006-07.



Welspun-Gujarat Stahl net jumps two-fold to Rs 82.5 cr
The Economic Times

MUMBAI: Saw pipe maker Welspun-Gujarat Stahl Rohren on Monday posted an over two-fold rise in net profit at Rs 82.5 crore for the quarter ended September 30 as compared to Rs 33.5 crore in the corresponding quarter last fiscal.

Total income of the company increased to Rs 929.8 crore for the second quarter in 2007-08 from Rs 674.9 crore in the year-ago period, up 37.77 per cent, the company informed the Bombay Stock Exchange. Shares of the company were trading at Rs 336.05, up 0.25 per cent in the afternoon trade at the BSE.



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