Mumbai, April 21: Tata Consultancy Services (TCS) has reported a 19.3 per cent jump in net profit for the year ended March 31 at Rs 5,026 crore.

Consolidated income of the country’s largest software exporter rose 22.36 per cent to Rs 22,863 crore, or $5.7 billion.

Including other income of Rs 486 crore, total income went up 23.4 per cent to Rs 23,349.45 crore from the year-ago level of Rs 18,914.26 crore. In the fourth quarter (January-March), net profit rose 4.15 per cent to Rs 1,245 crore on revenues of Rs 6,098 crore. The company said it had struck 20 deals worth over $50 million during 2007-08. The total foreign exchange gain for the company in the financial year 2007-08 stood at $1.37 billion.

“All our contracts are marked to market and we are not using any exotic options,” said S. Mahalingam, chief financial officer and executive director.

The company said no orders had been cancelled, but N. Chandrasekaran, chief operating officer and executive director, admitted that there had been some delays from the client side. “We have seen growth across verticals — BPO, infrastructure, retail,” he said. “Our revenue margins are up 70 basis points,” Chandrasekaran added. He said there had been some delays from clients in the banking, financial sector and insurance segments.

The company’s revenues from the UK crossed $1 billion, while those from the rest of Europe topped $500 million

The company’s total employee strength stood at 111,407. It reported the lowest attrition rate at 12.6 per cent, including BPO operations.

TCS has hired close to 35,672 people this fiscal and plans to add another 22,116 employees.

Trouble in Chile

The company said the government in Chile had cancelled a $70-million contract at the start of the year.

The Chilean government has ordered an investigation into the 10-year contract. Two local employees of TCS in Chile have been placed under administrative leave, pending investigation.

“The two employees, both locals from Chile, are under investigation for information leak. In line with the TCS code of conduct, we have put them under administrative leave,” said Chandrasekaran.