India’s largest outsourcer, Tata Consultancy Services (TCS), reported revenue of US$975 million in the second quarter, up 42 percent from the same period last year, with new clients and more business from existing customers boosting the company’s bottom line.
The company’s profit for the quarter that ended Sept. 30 was $216 million, up 44 percent from the same quarter last year, Tata said Monday.
Tata also added 58 customers and hired 8,919 employees in that period.
India’s top outsourcing companies are expected to have strong results for the most recent quarter, with a market boom under way.
India’s second-largest outsourcer, Infosys Technologies of Bangalore, last week reported 42.4 percent growth in revenue and 44 percent growth in profits in the quarter that ended Sept. 30. The company forecast that its revenue will cross $3 billion in its fiscal year, up more than 40 percent over the previous fiscal year.
TCS in Mumbai had a net addition of 6,663 employees during the quarter, taking the total number of employees to 78,028 as of Sept. 30. The company also added 58 clients during the quarter.
TCS, Infosys and Wipro, India’s third-largest outsourcer, compete for staff and business with multinational service companies such as IBM, Accenture and Capgemini, which operate offshore delivery centers in India. Electronic Data Systems earlier this year acquired a majority stake in Indian outsourcer MphasiS BFL, and subsequently merged its Indian operations with MphasiS.
-John Ribeiro, IDG News Service (Bangalore Bureau)
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