Strong 4th Quarter Results for Tata Consultancy Services

Tata Consultancy Services (TCS), an IT services, consulting and business solutions firm reported its consolidated financial results according to US GAAP for the quarter and financial year ended March 31, 2011.

Commenting on the 2010-11 performance, N. Chandrasekaran, CEO and MD said “Excellent execution and a constant focus on the customer has helped TCS round off a sterling performance in FY11 with strong growth in the fourth quarter while maintaining margins at historic highs.”

Looking ahead, Mr Chandrasekaran added “The demand environment continues to be vibrant. There are opportunities across markets and industries. Our nimble organization structure together with our full-services strategy and domain-intensive solutions gives us a great platform to sustain growth. We continue to shape the adoption of next generation technologies by investing in new areas like mobility, analytics, social media and sustainability solutions.”

S. Mahalingam, Chief Financial Officer and Executive Director, said “We have created a structurally robust cost base that is able to withstand a dynamic demand environment. The strength of this model can be seen from the steady improvement we have shown in operational and profitability parameters over the last four quarters.”

“While certain headwinds remain in the near-term and medium-term global macro-horizon, we remain confident of our ability to mitigate challenges as well as sustain business growth. We will continue to be relentless in running an efficient operation while ensuring the necessary investments are made to capture new growth opportunities,” Mr Mahalingam added.

There was secular growth across markets and industries during the financial year. Growth was led by the developed markets of the United States and Europe with strong contributions from Asia Pacific and Middle East and Africa in Q4. All industry verticals returned to the growth path during the year. In terms of services, TCS’ full services capabilities continue to be leveraged by customers with our new service lines like Assurance, Infrastructure Services, Products and Enterprise Solutions growing at a fast pace.