April 17, 2006
In Brief: Tata posts 36 percent revenue growth
Recommend ThisIndia's largest outsourcer, Tata Consultancy Services, announced Monday that it had revenue growth of 36.27 percent and profit growth of 41.16 percent in its fiscal year ended March 31, reflecting an overall buoyancy in the Indian outsourcing industry.
TCS of Mumbai posted revenue of $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 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. 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.
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