Tata Consultancy profit up 1.5 percent

October 22nd, 2008 - 10:10 pm ICT by IANS  

New Delhi, Oct 22 (IANS) Leading software services provider Tata Consultancy Services Ltd (TCS) has posted Rs.12.71 billion net profit for the second quarter this fiscal as against Rs.12.47 billion in the corresponding period last year, a growth of 1.5 percent.Revenues for the quarter were Rs.69.53 billion, a 25.29 percent increase over the year-ago period.

The company has registered Rs.25.05 billion net profits for the first half of 2008-09, up three percent from the first half last year, while revenues rose 24.8 percent to Rs.133.64 billion.

“New opportunities are emerging and there are signs that our services will play a significant part in the global economic recovery,” TCS chief executive officer S. Ramadorai said in a statement.

“Our acquisition of Citigroup Global Services will provide another driver for growth,” he added.

Earlier this month, TCS announced that it was buying Citigroup’s back-office operations in India for $505 million.

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