TCS became first Indian Company to top Rs 5 lakh cr in m-cap | Current Affairs, Current Affairs 2017

TCS became first Indian Company to top Rs 5 lakh cr in m-cap

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TCS became first Indian Company to top Rs 5 lakh cr in m-capIndian IT bellwether Tata Consulting Services (TCS)  became the first Indian company to achieve a market capitalization of 5 lakh crore rupees.

The global software major announced  that it posted net profit of Rs.5,058 crore in the quarter under review, registering 27 percent year-on-year (YoY) growth and 4.5 percent higher sequentially.

Under the International Financial Reporting Standard (IFRS), net income rose 21 percent YoY to $845 million and gross revenue to $3.69 billion, an increase of 17 percent YoY and 5.5 percent sequentially, which is the highest in the last 12 quarters.

In terms of market capitalisation, TCS is followed by Oil and Natural Gas Corporation (ONGC) at 3.5 lakh crore rupees and Reliance Industries at 3.3 lakh crore rupees.

The market capitalization of TCS is higher than the combined market capital of next 4 biggest IT Indian companies, viz. Infosys (1.90 lakh crore rupees), Wipro ( 1.39 lakh crore rupees) and HCL Tech (1.07 lakh crore rupees) and Tech Mahindra (45000 crore rupees). The combined market value of these four biggest IT companies in India is approximately 4.88 lakh crore rupees.

 

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