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The ACCC has cleared, provisionally, the proposed deal between Optus and NBN Co under which Optus is to be paid around $800m to shut down its HFC network and transfer customers onto the NBN. read moreTCS reports strong results for Sep Qtr
Stan Beer
Thursday, 13 October 2005 10:00
Indian outsourcer, Tata Consultancy Services, has posted strong results for the quarter ended 30 Septmeber 2005, bolstered by two US$250 million deals.
Revenue for the quarter was up 8.9% on the corresponding 2004 period to US$670.53 million while net income was up 8.8% to US$152.99 million.
Strong ramp-ups with existing clients in North America, new client acquisitions across verticals and large outsourcing wins helped the company post its strong quarterly performance.
Commenting on the company's performance in Q2, CEO and MD of TCS, S Ramadorai said: 'The significant client acquisitions we have had in the previous quarters have resulted in excellent ramp-up and growth during the Quarter. TCS' Global delivery cum Consulting led growth strategy has gained full market validation with the number of significant wins we have had this quarter. Our ability to manage complex technology engagements on a global scale will continue to be a growth driver.'
A US$250m + global outsourcing deal with ABN AMRO set the scene for the quarter. Other deals included a sister company contract with Indian-based Tata Teleservices, which outsourced IT operations and applications to TCS in a contract worth US$250m.
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