TCS is India's first billion-dollar software firm

Friday, 20 June 2003, 07:00 Hrs
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Software development and services firm Tata Consultancy Services (TCS) has said it had become India's first billion-dollar software firm in revenues.

NEW DELHI: TCS, India's largest software services export firm, said its revenues for the fiscal year ended March 31, 2003, touched 50.12 billion ($1.04 billion), up from 41.87 billion in fiscal 2001-02.

"We are extremely proud of this milestone that is a significant step towards our vision of 2010 of being among the top 10 IT consulting companies globally," S. Ramodorai, chief executive officer of TCS, said in a statement.

Compared to TCS, Infosys Technologies, India's second largest software services exporter, reported revenues of 36.25 billion for fiscal 2002-03 in April.

Revenue of Bangalore-based Wipro, the third largest software exporter, touched 43.38 billion in 2002-03, as compared to 34.92 billion during the previous fiscal.

TCS said it generated revenue to the tune of 45.45 billion from IT software and services export in 2002-03, up from 38.65 billion logged in the fiscal year ended March 31, 2002.

Domestic sector accounted for 3.69 billion of TCS's total revenue in the last fiscal year and it generated 980.50 million from other incomes, said a company statement.

The company added over 4,763 employees in the year 2002-03, as compared to 3,101 recruitments in the previous fiscal year.

Currently, TCS has over 24,000 professionals working in over 100 branches in 32 countries. It has the distinction of being India' largest software exporter consecutively for the last 30 years.

"We will continue to focus on our core competencies, training of employees, increasingly leverage our assets and continue investments in research and development," said Ramadorai.

Source: IANS

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