Tata profits boom


Tata profits boom

Antony Savvas

Leading Indian outsourcer Tata Consultancy Services has reported large increases in sales and net profits for the first quarter ending June.

Sales were up 27% to £355m and net profits increased 23% to £81m compared with the same quarter last year.

Tata took on an extra 2,700 staff during the quarter. The company plans to have an extra 13,500 employees in India by the end of the fiscal year, and a further 2,000 in other countries.

Main Indian outsourcing rival Infosys also reported an impressive increase in profits last week, and the pair are currently competing against each other for big contracts from Dutch-owned bank ABN Amro.

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