Arab Today, arab today indias tcs reports strong profits on us europe deals
Last Updated : GMT 06:58:51
Arab Today, arab today
Arab Today, arab today

India's TCS reports strong profits on US, Europe deals

Arab Today, arab today

Arab Today, arab today India's TCS reports strong profits on US, Europe deals

Chief Executive Officer Natarajan Chandrasekaran
Mumbai - AFP

India's biggest IT outsourcing firm Tata Consultancy Services on Thursday reported better-than-expected quarterly profits on the back of growth in its key markets of the United States and Europe.

The Mumbai-based company, commonly known as TCS, said in a statement that net profit for the three months to June 30 rose 12.9 percent to 57.09 billion rupees ($900.46 million), from 50.58 billion rupees for the same period last year.

Analysts surveyed by Bloomberg had expected TCS to announce profits of 55.1 billion-rupees after a sharp decline in the previous quarter due to higher wage costs.

"North America has rebounded strongly with five large deals and Europe gave two," TCS chief executive N. Chandrasekaran told reporters.

"From the point of view of deals, all the key core markets have done very strongly," he added, saying that the financial services, retail, and life sciences sectors had all been major contributors.

The company's revenues for the just-concluded quarter climbed a shade above 16 percent to 256.68 billion rupees ($4.05 billion) from 221.11 billion rupees a year ago.

The firm said it hired 5,279 new employees over the quarter to help handle increased business, taking the number of its staff across the world to 324,935.

TCS chief Chandrasekaran said the future outlook looked bright with new deals in the pipeline.

India has become a back office to the world as companies, especially in developed nations, have subcontracted work to firms such as TCS, taking advantage of the country's skilled English-speaking workforce.

The flagship industry has made India a top business destination by offering software development and information technology, engineering and design and other services.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indias tcs reports strong profits on us europe deals Arab Today, arab today indias tcs reports strong profits on us europe deals

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indias tcs reports strong profits on us europe deals Arab Today, arab today indias tcs reports strong profits on us europe deals

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday