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Tata Consultancy Services reported revenue rose 18.0 percent on a year-over-year basis in U.S. dollars to $2.65 billion in its fiscal first quarter ended March 31. The company, one of the world’s largest information technology services firms, reported 53 percent of revenue came from North America.
Fourth-quarter net income rose 10.6 percent to $585.0 million.
Tata added 42 new clients during the quarter. It also added 19,156 workers for a headcount of 238,583 at the end of the quarter.
IT services comprises both staffing and project-based work. In its fourth quarter, Tata reported 53.0 percent of its work was on a time and material basis while 47.0 percent was on a fixed price and time basis.
Full-year revenue rose 24.2 percent to $10.17 billion. Tata reported it’s the first Indian-based IT company to cross the $10 billion milestone. The growth rate in constant currency was 23.0 percent.
Net income rose 15.5 percent to $2.21 billion.
Tata Consultancy Services
For the fiscal fourth quarter ended March 31, 2012, compared with the same period in the previous year.
Revenue: $2.65 billion, +18.0%
Net income: $585.0 million, +10.6%
For the fiscal year ended March 31, 2012, compared with the previous year.
Revenue: $10.17 billion, 24.2%
Net income: $2.21 billion, +15.5%