TCS 3rd Quarter Results Analysed

http://www.tcs.com/investors/Documents/presentations/TCS_Analysts_Q3_08-09.pdf
The company announced the Q3 December 2008 results after market hours on 15 January 2009. The stock had lost 5.28% to Rs 510 on 15 January 2009 ahead of the results in a weak market.
The company's current equity is Rs 97.86 crore. Face value per share is Rs 1.
The current price of Rs 499.70 discounts the company's Q3 December 2008 annualized EPS of Rs 49.54, by a PE multiple of 10.08.
Tata Consultancy Services (TCS)'s standalone net profit as per Indian GAAP rose 3.31% to Rs 1,211.89 crore on 3.07% rise in sales to Rs 5,875.48 crore in Q3 December 2008 over Q2 September 2007. The TCS management said currency volatility had hit the growth of its revenue in Q3 December 2008.
The company reported a foreign exchange loss of Rs 250 crore, of which Rs 45 crore was a mark-to-market loss and the rest were hedging losses. TCS said that it added 41 new clients in Q3 December 2008 and hired 11,773 new employees. Its attrition rate in Q3 December 2008 stood at 11.9 %. Its employee utilization rate increased to 77.9%, from 74.7% in the previous quarter. The company said the deal pipeline was healthy, with growth likely to be driven by the retail, pharma and utility sectors. The company, however, said decision making by its clients may be delayed in the current tough global economic environment.

TCS Chief executive S. Ramadorai said market conditions are tough. Almost all sectors are facing stress, almost all geographies are facing problems, he said.
The company declared a quarterly dividend of Rs 3 per share, its 18th consecutive quarterly dividend.

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Key Facts for Quarter 3 October'08 to December'08: US GAAP
Revenue QoQ Growth Rate 4.65%
EBITDA QoQ Growth Rate 7.02%
Net Income QoQ Growth Rate 7.21 %
Onsite Revenue Fell to 51%
T& M Contracs Fell to 54.5 %
New Clients 41
Total Employees 1,30,343
Net Employee Addition: 8,692
Net Income: 276 Million Vs 287 Milion