Bigger India
Demand In Britain, Europe Boost India’s TCS Profits 24%
The weakness of India's rupee, Asia's worst-performing currency in 2018 falling 14 percent against the dollar, is helping outsourcing giants such as TCS book profits.
India’s biggest IT services exporter Tata Consultancy Services on Thursday reported record quarterly earnings, buoyed by growth in its banking and financial services division and increased demand in Western markets.
Mumbai-based TCS posted a 24.1 percent rise in net profit to 81.04 billion rupees ($1.15 billion) for the quarter ended December 31, up from 65.31 billion a year earlier, the company said in a statement.