Could it be that the world economy has turned a corner?
India's biggest IT service provider followed its rival Infosys in reporting strong growth for its latest financial quarter.
Infosys recently announced a 29.6% increase in revenues for its latest financial quarter compared to the same period last year. TCS has now announced a 30% increase. See details here.
Nobody is saying the economy is thriving but it's certainly better than the recent past.
- It had an all time high sequential revenue growth of $210m
- All major markets grew in double digit terms with Europe leading the pack
- All industry verticals grew in double digits, highlighting the diversity of the business portfolio and holistic nature of business growth
- Highest ever employee addition with 19,293 professionals added
And here are some of the deals TCS has highlighted:
- One of Canada's large financial institutions selected TCS as a strategic partner to globally support IT, BPO and Infrastructure Services across all lines of business.
- A Fortune Top 50 healthcare company has selected TCS to be their transformation and technology partner.
- A US based large banking and financial services institution has selected TCS as a strategic partner to achieve best in class technology services across its global locations.
- The Phoenix Group has acknowledged TCS' success with the ongoing Diligenta transformation program by transferring 1.7 million policies managed by another third party in a multi-year contract worth over £250 million.
- A leading publishing and education services provider has chosen TCS to be their sole provider for supporting and maintaining their global technology platform.
- TCS entered into a multi-year strategic partnership with a leading grocery retailer to drive operational efficiencies and partner in their strategic initiatives through integration of IT, Infrastructure and Shared Services.
- TCS has been engaged by a leading general merchandise retailer based in North America to establish a large centralized assurance centre of excellence to standardize its testing processes and drive productivity across all its business units.
- A state government in India selected TCS to transform its food and civil supplies system.