Tata Consultancy Services reports 41% profit increase

Tata Consultancy Services is India’s biggest software services exporter and they have just reported that its full-year net profit jumped 41 percent. This major jump is mostly because they won strategic deals for work outsourced from abroad this year.

TCS reported that its net profit rose to 649 million dollars in the year, which ended on March 31. In addition, they have plans to add on as many as 30,500 employees this year. The income was up by around 36 percent to 2.97 billion dollars.

In the most recent quarter, the company said net profit rose to 181.4 million dollars. This itself was a growth of 72.3 percent from the same quarter a year earlier. Their income for this quarter was 836.5 million dollars, which was up by around 44.4 percent.

TCS added as many as 89 new clients in the fourth quarter. This is a tremendous growth for the company, which represents the legendary TATA group of India. S Ramadorai, chief executive officer, and managing director of TCS said in a statement: “This has been a defining year for TCS. We are now a full services player with a global footprint.”

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