3 days ago, I reported about the success of Infosys. Today belonged to Tata Consultancy Services Ltd. (TCS), one of the top Indian software exporters. The company has announced financial results for Q4 & FY, 2005-06 and in this it is found that quarterly profit for the fourth quarter has increased to 72.31%. The annual profit increased 41.16%. To read the press release and know about the financial results of Tata Consultancy Services Ltd., visit their website. The main reason behind such a strong growth is the company's growing success in getting outsourcing deals from foreign companies.
The company has informed that soon it will sign a five-year $500 million deal but did not specify about the deal. TCS has decided to award its shareholders by giving them a bonus issue of one share for each share. The company has currently a market value of $19.5 billion and with the strong performance of the Indian IT sector in the global market this figure is going to increase for the next few years. The growth rate is expected to continue too.
Tata Consultancy Services Ltd was established in 1968 and it played pioneering role in software and outsourcing exports for India.
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