India’s largest outsourcer, Tata Consultancy Services (TCS), announced Monday that it had revenue growth of 36.27 percent and profit growth of 41.16 percent in its fiscal year that ended March 31, reflecting an overall buoyancy in the Indian outsourcing industry.
TCS of Mumbai posted revenue of US$2.97 billion and profit of $649.17 million in the year to March 31, as it clinched some large deals, expanded in various geographies and also made some acquisitions, the company said. The results are based on U.S. generally accepted accounting principles.
The company added 21,140 employees during the year, taking the total to 62,832. The company plans to add 30,500 staff in its current fiscal year, including some 9,200 offers to campus recruits.
India’s second-largest outsourcer, Infosys Technologies of Bangalore, also announced strong results last week. The company reported revenue of $2.15 billion for the year, up by 35 percent over revenue of $1.6 billion in the previous fiscal year. The company’s profits for the year at $555 million were 32 percent higher than in the last fiscal year.
Other large Indian outsourcing companies such as Wipro are also expected to announce strong results this week, following a pickup in the business climate for outsourcing.
— John Ribeiro, IDG News Service
For related news coverage, read India’s InfoSys Passed $2B in Revenue.
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