Abhishek Securities

Pick-up in discretionary spend by clients and revenue growth across geographies saw Tata Consultancy Services (TCS) report a net profit of Rs.3,512.3 crore for the second quarter of 2012-13, a 44 per cent growth over the year-ago figure of Rs.2,439 crore. During the period, the company’s revenue was up 34.3 per cent at Rs.15, 620.8 crore. The operating profit grew 32.5 per cent to Rs.4,179 crore. TCS has declared a second interim dividend of Rs.3 per share of Re.1 each. Addressing a press conference here on Friday, N. Chandrasekaran, CEO & MD, said, “We delivered a strong performance with growth across industries and geographies. As the global operating environment continues to evolve, there is little doubt that technology is playing a more pivotal role to shape the future of every industry than ever before. Customers are getting more adapted to the macros and higher discretionary spends are back. We are investing hugely in areas such as digital in an effort to be holistic with ...

The board of Tata Consultancy Services (TCS) in its meeting on 18 October 2012 has approved the composite scheme of arrangement between TCS, TCS e-Serve (e-Serve) and TCS e-Serve International (TEIL). The composite scheme of arrangement provides for merger of e-Serve into TCS and demerger of TEIL's special economic zone (SEZ) undertaking(s) to TCS. The appointed date proposed for this scheme is 01 April 2013. TCS holds 96.26% of the paid up equity share capital of e-Serve. TEIL is a wholly owned subsidiary of e-Serve. As per the terms of the scheme of arrangement, shareholders of e-Serve (other than TCS) will receive 13 equity shares of Re 1 each of TCS for every 4 equity shares of Rs 10 each of e-Serve held by them. The board has approved the scheme of merger of Computational Research Laboratories (CRL) and Retail FullServe (RFL) with TCS. The proposed appointed date for the merger of CRL is 01 October 2012 and for the merger of RFL is 01 April 2012. Computational Res...