Recent Posts

TCS results to brighten IT sector outlook

Indian software giant Tata Consultancy Services (TCS) has logged impressive sales as well as profit growth, on the back of rising volume of work and aggressive cost management.

The company’s consolidated sales in the quarter ended 31 December 2010 rose by 4% over the previous quarter to Rs 9663 crore. This growth was higher than that of Infosys, whose sales grew by just 2.3% sequentially, and which had got affected by foreign exchange volatility.

Continue Reading →

Filed under: , , , , ,

Infosys, Wipro and TCS bag lucrative BP outsourcing deal

Oil major BP handed out a major IT outsourcing contract to five global IT companies. The deal has been awaited for long and comes at a time when deal flow has slowed down for the software sector. While the deal value was not disclosed by the companies who got the award, this story by Mint has quoted a BP spokesperson attributing the deal value at $1.5bn. BP will save about $500mn by reducing its number of vendors to 5, says the report.

Continue Reading →

Filed under: , , , , , ,

TCS’ Q4 2009 results hit by poor business environment, outlook for the year remains weak

TCS, which reported its results yesterday, had some good things to say. It has got more clients, revenues in its financial services segment grew and a weaker rupee propped up revenue growth. But the negatives were equally strong: billing rates have dropped, demand in key segments like manufacturing, telecom and hi-tech is slowing and outlook for the year appears gloomy.

Continue Reading →

Filed under: , , , ,