TCS Net Profit Climbs to Unexpected 26.7 Percent in Q3
Tata Consultancy Services (TCS) posted a very strong, unexpected 23 percent increase in the quarterly profit for October to December 2012 quarter.
Tata Consultancy Services (TCS), the leading software services exporter of India, posted a very strong, unexpected 23 percent increase in the quarterly profit for October to December 2012 quarter. There was a jump of 26.7 percent in the net profit of the company. With this, the net profit of TCS increased to 35.52 billion Rupees or 652 million Dollars.
This is an increase from the 28.87 billion Rupees from 2011. The overall 100 billion dollar IT services of India have remained under constant pressure to remain profitable because clients in the crucial markets like Europe and the US have maintained cautious point of view on the tech spending because of dwindling economy of the world.
TCS does not actually facilitate everyone with the detailed forecasts of the revenue, but it has maintained that it would expect to race ahead of the export revenue growth forecast of the industry, set as benchmark by the National Association of Software and Service Companies (Nasscom).