TCS Q3 net up 19%, to pay 300% dividend
Business Standard — January 16, 2008

Tata Consultancy Services (TCS) today posted a 19% increase in consolidated net profit at Rs 1,326.67 crore for the third quarter ended December 31, 2007 when compared with Rs 1,116.10 crore in Q3FY07.

According to a release issued to the BSE today, total income increased to Rs 6,041.98 crore from Rs 4,910.53 crore in Q3FY07.

The board of directors today declared a third interim dividend of Rs 3 per share of Re 1/- each.

The company added 54 new clients and 7,522 employees joined the company during the quarter ended December 31, 2007.

Commenting on the performance, chief executive officer S Ramadorai said: "Our diversified business model continues to sustain the growth momentum despite several external challenges. There is growth momentum across geographies with contributions from all business units."

The company had about $3.1 billion outstanding in hedges, and has used a conversion rate of Rs 39.415/$ for Q3FY08.