India’s biggest IT sourcing firm TCS books quarterly profit rise

AFP, MUMBAI: India's biggest IT sourcing firm Tata Consultancy services reported better-than-expected quarterly earnings yesterday, boosted by rising demand for its cloud computing services.
The firm, based in India's financial capital Mumbai, said net profit for the three months to June 30 rose to 63.17 billion rupees ($944 million) from 57.09 billion rupees for the same period a year ago.
That was above the 60.6 billion-rupee average from a survey of analysts' estimates compiled by Bloomberg News and marked an increase of over nine percent on-year.
"Strong execution and accelerating customer adoption of Cloud, Big Data & Analytics has driven broad-based growth across key markets and industries," TCS chief executive N. Chandrasekaran said in a statement.
"Our investments in platforms are gaining significant traction as customers look to boost business agility and enhance their time-to-market advantage to gain a competitive edge."

Indias biggest IT sourcing firm TCS books quarterly profit rise

AFP, MUMBAI: Indias biggest IT sourcing firm Tata Consultancy services reported better-than-expected quarterly earnings yesterday, boosted by rising demand for its cloud computing services. The firm, based in Indias financial capital Mumbai, said net profit for the three months to June 30 rose to 63.17 billion rupees ($944 million) from 57.09 billion rupees for the same period a year ago. That was above the 60.6 billion-rupee average from a survey of analysts estimates compiled by Bloomberg News and marked an increase of over nine percent on-year. Strong execution and accelerating customer adoption of Cloud, Big Data Analytics has driven broad-based growth across key markets and industries, TCS chief executive N. Chandrasekaran said in a statement. Our investments in platforms are gaining significant traction as customers look to boost business agility and enhance their time-to-market advantage to gain a competitive edge.