Tata Consultancy Services (TCS) is the latest Indian IT service provider to announce financial results that suggest demand for outsourced IT services is becoming more predictable.
For the final three months of its latest fiscal year TCS, India's biggest IT service provider, made $2.2bn of sales which was 33.2% higher than the same period last year and 4.7% higher than the previous quarter.
Profit was £531m in the quarter, which was 25.4% higher than the same period a year ago and 2.7% more than the preceding quarter.
TCS's full-year results showed sales worth $8.2bn and a profit of $1.9bn. These were just over 29% and 31% higher than the previous year, respectively. TCS now employs just under 200,000 people.
TCS's key wins in the quarter (see below) show, like HCL and Infosys, that it won services contracts from customers looking to make their operations more efficient. Similarly to Infosys, TCS shows signs of customers spending on IT to transform business.
Examples of TCS contract wins:
A consumer electronics company in Asia Pacific recruted TCS as its integrated, global infrastructure service provider.
TCS won a transformational and full-services contract with a large bank in the Middle East.
It was selected by a US retailer to support a transformation programme to implement a customer-centric merchandising system.
TCS is embarking on an enterprise application integration and infrastructure service at a global automotive company.