TCS Bonus Issue Approved

By CROW -
 

TCS has announced its FY09 and fourth quarter results. The company's FY09 Indian GAAP consolidated net profit was up 4.5% at Rs 5256.4 crore versus Rs 5026 crore and its Indian GAAP consolidated net sales were up 21.6% at Rs 27812.9 crore versus Rs 22863.4 crore.

In a press conference the TCS management said that the board had approved a 1:1 bonus issue subject to shareholder approval. It pegs the company's Q4 EPS at Rs 13.54 and said it would pay Rs 5 per share as final dividend.

The management said it has closed seven large deals in January-March and added 163 new clients in FY09. The company has reduced their outstanding debtor days by 12 days

On employment, TCS said that it has made 24,885 campus offers for FY10 and that its net additions of 13418 staff in Q4 FY09 had upped its total employee strength to 143761. It added that the employee utilisation excluding trainees in January to March was at 79.7% and at 69.4% including trainees.

The board stated that the FY09 retail, manufacturing ops sales were at USD 500 million each and forex losses stood at Rs 781 crore. It said that the Citigroup BPO added 1.6% to the FY09 volume growth. The company's cash and cash equivalents stands at Rs 4300 crore as on March 31, 2009, the management said.

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