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TCS Leads in Q2 Profits Among IT Giants
By siliconindia
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Friday, 21 October 2011, 01:14 IST |
1 Comments
Bangalore: IT Sectors are the one which concentrates more on profits and have healthy competitions among leading companies. As they produce quarterly results which consists of profits and loses occurred differs from other companies, as they uphold positions according to the gains earned by a particular company.
Corporate India is witnessing a competition of its own as outsourcing giants, and the country's biggest software exporters are competing respectively as Second quarter results season for FY 2011-12 is going on in full swing. Most of the big IT companies are done with their results. While Infosys surprised positively, TCS proved to be a spoil sport.
TCS
Tata Consultancy Services shares crashed over 7 percent as the company's little lower than expected quarterly numbers raised doubts over the software major's valuations. Number of active clients are 1,010 (35 new clients added in Q2)
India's largest software services exporter reported a 15 percent year on year rise in second quarter net profit at Rs 2,439 crore. Revenue in July-September was up 25% percent at Rs 11,634 crore. TCS rival Infosys had reported a consolidated net profit of Rs 1,906 crore, up 11 percent year on year, slightly ahead of street expectations.
