TCS posts strong results

Sales at Indian IT supplier Tata Consultancy Services grew to $2bn in the three months to 30 September, an increase of 30% compared to last year and up 12% on the previous quarter.

Sales at Indian IT supplier Tata Consultancy Services grew to $2bn in the three months to 30 September, an increase of 30% compared to last year and up 12% on the previous quarter.

TCS CEO N. Chandrasekaran said the results were particularly pleasing given the uncertain economic climate.

"Due to the growth we have achieved across all industry units, we are very positive about the global demand recovery going forward while being watchful in view of the macro environment," he said.

All major markets grew in double digit terms with Europe ahead, while TCS's North American revenue exceeded $1bn, said the report.

Indian IT firms are continuing to show strong growth - earlier this week, Indian rival HCL posted sales of $804m (£511m), up 27.6% year-on-year and 9% on the previous quarter. Profits increased to $254.4m compared to the same period last year.

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