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India's top outsourcer shows steady growth

India’s biggest offshore outsourcing company has posted quarterly profits up almost 11%, and net profits up almost 9% year-on-year.

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.

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