| Net profits at Tata Consultancy Services Ltd., India’s largest outsourcing company, grew 29 percent to almost $1.45 billion in the fiscal year ending March 2010. The company’s revenues grew to $6.34 billion, up by 5.38 percent year-to-year.
TCS chief executive officer N. Chandrasekran, said, “Our volumes have grown and our margins are at near historic highs.”
The company’s fourth quarter net profit surged by 60 percent to $420 million over the previous year. Meanwhile, Infosys Technologies reported that quarterly profits rose 8.7 percent to $349 million on revenues of $1.3 billion, which rose 15.6 percent from last year. The company expects revenues to grow 16 to 18 percent to $5.6 billion to $5.7 billion this financial year. Quarterly profits rose 78 percent from last year at HCL Technologies. Net income for the January to March quarter rose to $76.6 million from $43.0 million in 2009. The company’s revenues rose 21 percent from last year to $685 million. At the height of the outsourcing boom, companies such as Wipro, Infosys and HCL experienced 30 percent annual growth |
Outsourcers Rebound
