in a Dynamic Environment - Tata Consultancy Services

TCS LIMITED (UNCONSOLIDATED)
RESULTS OF OPERATIONS - TCS LIMITED (UNCONSOLIDATED)
The Management’s Discussion and Analysis given below relates to the audited financial statements of TCS Limited
(Unconsolidated). The discussion should be read in conjunction with the financial statements and related notes for the
year ended March 31, 2009.
The following table gives an overview of the financial results of TCS Limited (unconsolidated):
Amount in Rs. crore
For the year ended For the year ended
Particulars March 31, 2009 March 31, 2008 % Increase/
(decrease)
Revenue from operations Rs. crore % of Rs. crore % of
revenues revenues
Information technology and consultancy services 21,535.75 96.12 17,446.51 95.39 23.44
Sale of equipment and software licences 868.25 3.88 843.34 4.61 2.95
Total revenues 22,404.00 100.00 18,289.85 100.00 22.49
Expenditure:
Employee costs
Overseas business expenses (employee
7,370.09 32.90 5,961.17 32.59 23.63
allowance paid overseas) 4,306.25 19.22 3,451.88 18.87 24.75
Total employee costs
Overseas business expenses (other than
11,676.34 52.12 9,413.05 51.47 24.04
employee allowance paid overseas)
Services rendered by business associates and
421.63 1.88 417.19 2.28 1.06
others 1,019.67 4.55 689.25 3.77 47.94
Other operating expenses 3,265.53 14.58 2,994.12 16.37 9.06
Total expenditure 16,383.17 73.13 13,513.61 73.89 21.23
Other income (net)
Profit before interest, depreciation and
(456.24) (2.04) 689.82 3.77 -
taxes 5,564.59 24.84 5,466.06 29.89 1.80
Interest 7.44 0.03 3.42 0.02 117.54
Depreciation 417.46 1.86 458.78 2.51 (9.01)
Profit before taxes 5,139.69 22.94 5,003.86 27.36 2.71
Provision for taxes:
Income tax expense (including deferred tax
benefit and MAT credit entitlement) 420.48 1.88 470.45 2.57 (10.62)
Fringe benefit tax 23.00 0.10 24.65 0.13 (6.69)
Net profit for the year 4,696.21 20.96 4,508.76 24.65 4.16
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