Tata Consultancy Services [Get Quote] on Monday announced a consolidated net profit of Rs 5,026.02 crore (Rs 50.26 billion) for the year ended March 31, 2008, an increase of 19.3 per cent as compared to the corresponding period a year-ago.

The firm had a consolidated net profit of Rs 4212.63 crore (Rs 42.12 billion) in the year-ago period, it said in a filing to the Bombay Stock Exchange.

The total income of the group stood at Rs 23,349.45 crore (Rs 233.49 billion) for the year ended March 31, 2008, compared to Rs 18,914.26 crore (Rs 189.14 billion) for the corresponding period a last year.

TCS posted a standalone net profit of Rs 4,508.76 crore (Rs 45.08 billion) for the year ended March 31, 2008, a rise of 20 per cent as compared to the year-ago period.

The firm had posted a standalone net profit of Rs 3,757.29 crore (Rs 37.57 billion) in the corresponding period a year ago.

The total income for the year ended March 31, 2008 rose to Rs 18,979.67 crore (Rs 189.79 billion) as compared to Rs 15,156.52 crore (Rs 151.56 billion) in the same period a year ago.

The company's board of directors has recommended a final dividend of Rs 5 per share of face value of Re 1 each. In addition, the Board has also recommended a dividend of Re 0.07 per redeemable preference share (RPS) of Re 1 each.

Shares of the company closed at Rs 992.55, down 0.83 per cent on the Bombay Stock Exchange.