Tata Consultancy Services post 47.2 percent gain in net profits

India’s leading IT Company Tata Consultancy Services has said that their third quarter net profit soared 47.2 percent compared to figures in the previous year in the same period.

The company’s net profit for the three months to December increased to 11.04 billion rupees.

The revenues were up 40.8 percent to 48.6 billion rupees compared to the same period last year.

TCS chairman and managing director S Ramadorai said on this performance report: “TCS revenues have crossed the three billion dollars mark in nine-months ending December. This shows that TCS full-service model is delivering sustained profitable growth.”

P Vandrewala, executive vice-president added: “We’ve managed strong growth showing that the global network delivery model is in place. We are maintaining a run-rate like the Australian cricket team.”

The company further said that they have signed a 140-million-dollar deal with a leading Latin American bank and a 100-million-dollar deal with a Chinese bank. They did not disclose much information on these two new deals.

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