It seems that Tata Consultancy Services Ltd. (TCS) has started the new Indian fiscal year in a good way. Today, the figures for the first quarter of 2006-07 fiscal year were announced and there you can find that TCS has done better than expected. I am quoting from a report of Reuters:
"The company, part of India's Tata group that has diverse interests including steel, salt, cars and trucks, said net profit in April-June rose to 8.63 billion rupees ($185 million) from 6.47 billion a year earlier.
That compared with a median profit estimate of 8.48 billion rupees in a Reuters poll of 11 brokerages."
The main reason of doing so well is the increase in outsourcing. TCS is one of the top IT companies of India and it is getting a lot of outsourcing works in the last few years. For example, in this quarter, TCS added 62 new clients. From the press release of TCS, I came to know that in the last quarter, in terms of employees, TCS had 'a gross addition of 7,095 (net 4,698) employees' and now the TCS has total 71,190 employees and they come from 53 different nationalities.
In India, top players like Infosys, WIPRO and TCS are doing very well. Indian government should now focus on smaller companies and support them to flourish.
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