After unexpectedly good results from Infosys and HCL, all eyes were on Tata Consultancy Services on Thursday, as India’s biggest IT outsourcer by revenues posted results for the three months to end-December.
The group announced profits after tax of Rs53.77bn ($873.6m), up 15.1 per cent on the previous quarter, on revenues of Rs212.94bn, up 1.5 per cent.
Chief executive, N Chandrasekaran said in a statement:
Our diversified market presence and services portfolio have helped us overcome seasonal weakness and soft demand in the Indian market.
That sounds good, especially at a time of year filled with holidays, when billable hours fall for these outsourcing groups. But in some ways it’s not as good as industry analysts were expected.
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