TCS, Infosys, Wipro & HCL Tech Build $8 Billion Cash Chest


New Delhi: The country's four top IT firms -- TCS, Infosys, Wipro and HCL Technologies have seen their combined cash chest swell to a whopping $ 8 billion (Rs 43,200 crore), even as the overall business trends remain sluggish for the entire sector.

While TCS and HCL Tech managed to post strong financial numbers for the quarter ended March 31, 2013, the results were mostly disappointing from Infosys and Wipro.

However, all the four companies have maintained a strong cash balance as on March 31, 2013.

Tata group's IT arm, N Chandrasekaran-led TCS ( Tata Consultancy Services) closed the latest fiscal with total cash and cash equivalents of USD 1.24 billion with an increase of USD 100 million during the year ended March 31, 2013.

Its closest rival, S D Shibulal-led Infosys also saw its cash balance soar by $300 million to a humongous $4.34 billion at the end of fiscal year 2012-13.

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Source: PTI