Narang to nurture Tulip
Date: Thursday , February 01, 2007
The recent shuffle in the management at Cisco India seems to have worked very well for enterprise data and network service company, Tulip IT Services as its administration has managed to rope in Sudhir Narang as their new CEO.
Previously serving as Senior Vice-President for India and SAARC countries at Cisco, the new head of the end-to-end data connectivity service provider is looking to leverage his company’s fortune and possible expansion plans. One may label the move a smart choice after observing the tremendous growth the telecom and wireless space is currently seeing in India where 65 million wireless subscribers were added last year and the total broadband connections in the country went up to 2.10 million; 0.1 million in December 2006 alone.
“With the current market in our favor, it would be my role to use this as leverage to put Tulip on its way to business growth,” says he. The company, (BSE/NSE: TULIP Mkt Cap 1,746.96) recently posted a 132 percent increase in net profit from Rs 27.48 crore during the quarter ended December 31, compared to Rs 11.87 crore during the same period of the previous year.
Incidentally, two other officials from Cisco India have jumped on the Tulip board of management. Karan Bajwa and Dinesh Verma, part of the government and service provider businesses teams, have now joined the Tulip team as President- Sales and Marketing, and Business Development respectively.