Indian IT Firm Reveals Unsurpassed Revenue Growth During Recession
Most recently, outsourcing heavyweight Infosys was the first to post significant gains for the quarter July to September. However, Tata Consultancy Services has overtaken all the existing results so far with extraordinary gains of up to $2 billion. This is 12 percent higher in comparison to the previous quarter. And it is 30 percent higher than the figures of a year before. In addition, TCS has posted net income as $455 milliion - this shows an improvement of about 13 percent from the last quarter. Analyssts predict that these figures point to the company ending in revenues of $8 billion toward the fiscal year end.
CEO of the firm, N. Chandrasekharan was quoted as saying that they've had a fantastc performance run across all ther operations. This was prompted by a large volume of growth, amounting to 11 percent. He added that the strong numbers amid some uncertainty in the world markets and economies, shows that there is robust demand.
Moreover, he also noted that the TCS team led the quarter with a great deal of flexibility in coping with spontaneous opportunities that would prop up. In addition, they have implemented company procedures perfectly, Chandrasekharan said. He continued to say that the growth TCS has achieved in industry unit, the company is confident that the demand recovery in global markets will take place. It would also mean keepng a watch out on the macroeconomics that are playing out at the present time. Despite what skeptics say, most experts say that outsourcing to India is going to be a trend for at least the next five years.
