Tata Consultancy Services (TCS has become the first Indian IT company to cross the ten billion dollar milestone posting annual revenues of $ 10.17 billion.

TCS posted a net profit of Rs. 2,932 crore, up 22.6% year-on-year and 1.6% compared with the trailing quarter. Revenue grew 30.5% from a year ago to Rs. 13,259 crore

Commenting on the 2011-12 performance, N. Chandrasekaran, CEO and MD said, “We have carried our strong momentum through the fourth quarter to close out a year of strong growth. We have kept our focus on profitability and consolidated our market leadership.” 

“With our customer-centric approach, strong solution set and investments in game-changing technologies like mobility, big data and cloud, we remain well positioned to help our customers transform and drive growth in their businesses”, he added.  

Looking ahead to FY13, Mr. N Chandrasekaran said, “TCS is well prepared to achieve balanced growth across the industries and markets it operates in, given its holistic portfolio of services which are now achieving significant scale across markets.” 

S Mahalingam, Chief Financial Officer and Executive Director, said, “We have grown very well during 2011-12 and also been able to exit the year at the right margin levels, despite the marked increase in volatility during the past 12 months.” He added: “Our focus is firmly fixed on the opportunities out there. So while maintaining our cost discipline at an operational level, we continue to invest in capacity and capability as we prepare for growth ahead.”

It said that There was secular growth across markets and industries during the financial year. North America grew by 29.6% to cross $5 billion while Europe including United Kingdom grew by 33.8%.  All industry verticals grew in double digits during FY12. 

TCS said that its full services capabilities continue to be leveraged by customers with new service lines growing at a fast pace - Infrastructure Services, Enterprise Solutions and Business Process Outsourcing service lines each clocked more than $ 1 billion in revenues in 2011-12. All other service lines also grew by double digits.

In Q4 the company has been selected by a leading US Insurer as a strategic partner in a multi-year program that aims to help it re-architect its policy and customer management application portfolio and drive greater agility in product development, integrated marketing, and customer experience management.

It has also partnered with one of the largest European telecom companies to restructure their application and infrastructure management services and help transition from legacy service vendors, re-architect the solution delivery processes and transform to an end-to-end managed services model.

TCS has also been selected by a leading international automotive retailer to support, develop and globally rollout their dealer & retail management program.

Apart from this, TCS was awarded a multi-million dollar managed services contract by a leading, global smart devices manufacturing company to provide Application Maintenance and Support Services for their core business processes in Supply Chain, Order Management, Sales and Finance Functions.