India's top IT company Tata Consultancy Services on Monday reported a 23 percent jump in its net profits for 2015 - 16, at Rs. 24, 215 crore. The company's revenues for the year, based on global accounting norms, was up 14. 8 percent at Rs. 108, 646 crore.
The company, which faces a $940 million fine in the US in a software case, said its net profits for the last quarter of 2015 - 16 were up as much as 64. 4 percent at Rs. 6, 341 crore (year - on - year) and revenues jumped 17. 5 percent to Rs. 28, 449 crore.
On a sequential (quarter - on - quarter) basis, the fourth quarter revenues were up 3. 8 percent and net profits were up 3. 8 percent.
The results came after the close of trading hours on Indian bourses. The company's scrip had ended with a marginal fall of Rs. 0. 75 or 0. 03 percent at Rs. 2, 522. 40 on the BSE.
The robust results come just a few days after the Indian IT bellwether was fined $940 - million by a US Federal Court in Wisconsin for allegedly stealing software information. Tata Consultancy has since denied any wrong - doing and says it intends to appeal against the verdict in higher courts.
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