Next in line to Infosys Technologies, another major software firm TCS announced its Q1, 2009 results on July 16th 2008. The net income of the company in the quarter ending June 30,2008 stood at $296 million, which is a sequential growth of 2% Y-o-Y. Its revenues for the same time period was $1.5 billion which is up by 21% Y-o-Y.

Amidst high concern of slow down in US economy and Sub prime crisis due to which the major clients of TCS like Citi Group and UBS AG had delayed some of the projects. These companies had suffered credit losses in the tune of $400 billion in the recent months. So no doubt there is a marked slowdown in the BFSI(banking and financial services) domain.

Its first quarter sales rose to Rs 6,410 crores as compared to Rs 5,160 crores exactly a year earlier. The earning per share(EPS) of the company now stands at Rs 12.71 a share against Rs 12.11 a share a year earlier. In this period it has added 35 new clients and 8,982 employees. It has also announced an interim dividend of Rs 3 per share on equity share of one rupee each.

But the shares of the company was beaten on the stock exchanges when it lost 2.8% to close at Rs 727.35 which is its lowest since Nov 2 ,2005. The over all rise in the company’s share prices in this quarter was 5.9% as compared to 14% fall in the sensex. Meanwhile there is also a news that Inflation figures will be announced on Thursday at 5 PM, which was usually announced on Friday noon. Software firms like Wipro and Satyam will come out with their quarterly earnings on July 18th,2008.

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