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India’s TCS net profits up 29 percent in 2009-10

Tata Consultancy Services Ltd., India’s largest outsourcing company, said Monday that its net profit for the 2009-10 financial year increased by 29.01 percent to $1.45 billion, describing it as a stellar performance.

Revenue for the financial year that ended on March 31 was $6.34 billion, up by 5.38 percent year-to-year, under U.S. accounting standards, the company said.

N. Chandrasekran, TCS chief executive officer and managing director, said the ability to react to growth opportunities and increase efficiency helped the company deliver a superior performance for the fourth successive quarter.

“Our volumes have grown and our margins are at near historic highs. Strong volume growth of 17 percent during the year has rounded off an exceptional year for the TCS,” he said. Read full story from publisher…

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