India’s biggest offshore outsourcing company has posted
quarterly profits up almost 11%, and net profits up almost 9%
year-on-year.
For the three months ending 31 December, Tata Consultancy
Services (TCS) said sales had risen to £427m, and profits had
reached £96m for the period.
TCS said key vertical sectors such as retail and utilities had
helped it continue sales and profits growth, as well as new banking
industry contracts.
Tata said it had added over 6,000 to its headcount during the
quarter and it planned to add another 8,000 staff during the
current quarter. The company currently employs almost 60,000.
Last week, Infosys Technologies – India’s number two IT
outsourcer – said third-quarter sales were up over 32% to £329m for
the three month’s ending 31 December.
The company also said that net profits rose almost 28% to £84m
when compared with the same quarter last year.
In addition, Infosys said its headcount had grown by 3,226
employees during the quarter.