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Tata Q4 revenue, profit up

April 16, 2014

Tata Consultancy Services Ltd., an India-based information technology services provider, reported revenue rose 15.2 percent in U.S. dollars in its fiscal fourth quarter ended March 31 to $3.50 billion. Fourth-quarter net income rose 33.5 percent from the year-ago quarter to $861.0 million. The jump was 51 percent in Indian rupees, Bloomberg reported.

Full-year revenue rose 16.2 percent to $13.44 billion in its fiscal year. The increase was 17.3 percent in constant currency. Net income for the year rose 22.9 percent to $3.13 billion.

“We have maintained our momentum, improved our quality of growth, deepened our relationship with customers and expanded our presence in newer markets like Europe during the past 12 months,” said CEO N. Chandrasekaran. “Our strategic investments including those in digital technologies are providing a compelling value proposition as well as helping us anticipate and shape new market trends successfully.”

The company said Europe led growth in major markets while the U.K. and North America continued to grow inline with the company average.

Tata shares fell 2.51 percent in trading to 2,196.30 Indian rupees.