Friday, July 15, 2005

Tata Consulatancy net profit rises by 33%

TATA Consultancy Services (TCS) has reported a net profit of Rs 578.86 crore which is a rise of 33 percent for the first quarter ended June 30. The higher net profit was on account of increased international business, better employee utilisation and improved cost management. Consolidated revenues rose by 24.56 per cent, year-on-year, to Rs 2721 crore. TATA Consultancy Services has added 68 new clients during the quarter. The company hired 2,690 employees during the quarter under consideration. In another development Tata Infotech Ltd has been merged with TATA Consultancy Services. Tata Infotech Ltd has become biggest brand in Information Technology segment by becoming the first Indian information technology company to cross Rs. 10,000 crores.