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Tata Consultancy profit up 1.5 percent
Thursday, 23 October 2008, 20:32 IST
New Delhi: Leading software services provider Tata Consultancy Services(TCS) has posted 
12.71 billion net profit for the second quarter this fiscal as against 12.47 billion in the corresponding period last year, a growth of 1.5 percent.
Revenues for the quarter were 69.53 billion, a 25.29 percent increase over the year-ago period.
The company has registered 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 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.
Source: IANS
12.71 billion net profit for the second quarter this fiscal as against 12.47 billion in the corresponding period last year, a growth of 1.5 percent.
Revenues for the quarter were 69.53 billion, a 25.29 percent increase over the year-ago period.
The company has registered 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 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.
Source: IANS