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News >> Technology >>
Top 10 IT firms see jump in sales
By agencies
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Wednesday, 04 May 2005, 19:30 IST
NEW DELHI: The total sales of the top 10 Indian IT companies have grown by 37 percent over the year. Prices have been stable for most companies with some new clients coming in at higher rates.
The total net profits of these companies have also grown at the rate of 40 percent. On a quarterly basis, however, the performance has been moderate with the total sales of the top 10 companies growing by 6 percent over that of the previous quarter and the total net profits falling marginally.
Infosys has enjoyed the highest growth in sales in FY05, amounting to 47 percent, its revenues exceeding 
70 billion and offshoring gaining increasing prominence. Billing rates have risen marginally for the company in the year.
Though the quarterly growth in revenues of the company has fallen to 6 percent currently, the growth had been strong in the first two quarters of FY05, with growth exceeding 12 percent. On the profitability front, too, the company has posted a significant growth of 52 percent in FY05 to 1.8 billion.
On the other hand, Wipro has witnessed the highest growth in net profit. The companys net profit has risen by 58 percent to 1.6 billion. This includes the profit for Wipro Infotech, the India, Middle East and Asia Pacific IT business of Wipro as well as its consumer care and lighting business.
The lower growth in sales of the global IT business of Wipro at 39 percent in comparison to Infosys 47 percent has widened the gap between the revenues. The total revenues of the global IT business of Wipro at 6.75 billion. A year back, revenues of the global IT business of Wipro were just around 4.95 billion less than that of Infosys.
TCS, with revenue of 9.7 billion has crossed the $2 billion mark. Both the sales and the net profit of the company have grown at robust rates of 37 percent and 44 percent respectively in FY05. In the quarter ended March 05, the company made provision for an additional performance incentive amounting to 1.02 billion, which brought down its quarterly net profit.
Further, stoppage of work at the clients end in the case of CMC impacted its net profit negatively by 130 million, resulting in the company making a net profit of 4.7 billion for the quarter ended March 05.
While MphasiS, Satyam and HCL Technologies were other companies with revenue growth in the range of 30-40 percent, i-flex clocked a growth of 45 percent during the year, on the back of 69 percent growth in services during the year, as well as increased adoption of its products by banks.
Polaris, however, has posted a disheartening performance for the year. While the net sales growth of the company at 22 percent in FY05 is lower than the estimated industry growth rate of 35 percent, its net profit has actually fallen steeply by 17 percent during the year.
70 billion and offshoring gaining increasing prominence. Billing rates have risen marginally for the company in the year.
Though the quarterly growth in revenues of the company has fallen to 6 percent currently, the growth had been strong in the first two quarters of FY05, with growth exceeding 12 percent. On the profitability front, too, the company has posted a significant growth of 52 percent in FY05 to 1.8 billion.
On the other hand, Wipro has witnessed the highest growth in net profit. The companys net profit has risen by 58 percent to 1.6 billion. This includes the profit for Wipro Infotech, the India, Middle East and Asia Pacific IT business of Wipro as well as its consumer care and lighting business.
The lower growth in sales of the global IT business of Wipro at 39 percent in comparison to Infosys 47 percent has widened the gap between the revenues. The total revenues of the global IT business of Wipro at 6.75 billion. A year back, revenues of the global IT business of Wipro were just around 4.95 billion less than that of Infosys.
TCS, with revenue of 9.7 billion has crossed the $2 billion mark. Both the sales and the net profit of the company have grown at robust rates of 37 percent and 44 percent respectively in FY05. In the quarter ended March 05, the company made provision for an additional performance incentive amounting to 1.02 billion, which brought down its quarterly net profit.
Further, stoppage of work at the clients end in the case of CMC impacted its net profit negatively by 130 million, resulting in the company making a net profit of 4.7 billion for the quarter ended March 05.
While MphasiS, Satyam and HCL Technologies were other companies with revenue growth in the range of 30-40 percent, i-flex clocked a growth of 45 percent during the year, on the back of 69 percent growth in services during the year, as well as increased adoption of its products by banks.
Polaris, however, has posted a disheartening performance for the year. While the net sales growth of the company at 22 percent in FY05 is lower than the estimated industry growth rate of 35 percent, its net profit has actually fallen steeply by 17 percent during the year.