15 Jan 2010
Tata Consultancy Services (TCS) has reported a 33 per cent profit increase to 17.97bn rupees (£241m) in its fiscal third quarter.
Revenue also rose, by 5.1 per cent to 76.50bn rupees (£1.03bn) from a year earlier. The numbers surpassed analysts' expectations.
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The Indian firm, a bellwether in the IT services sector, had 32 new contract wins over the period, from clients including a UK government agency.
According to TCS, demand for outsourcing surged as the business environment improved over the past quarter. Rival Infosys also raised its guidance for the next fiscal year, fuelling hopes of recovery.
The company also saw an addition of more than 7,000 new staff members during the period, with turnover rates in IT services reaching 10.8 per cent and business process outsourcing at 18.3 per cent.
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