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INDIAN OUTSOURCING FIRMS GROW STRONG
from: John ParkerAccording to newsfactor,the two largest Indian
outsourcingcompanies, Tata Consultancy Services and Infosys
Technologies, announced healthy earnings growth on Tuesday,
indicating that Western corporations continue to look to India
when outsourcing technology and back-office operations. The
$17.2 billion Indian outsourcing industry is flourishing as
companies hire skilled yet inexpensive English-speaking
programmers and call center employees to work on technology
projects and provide customer support for their American and
European clients. Tata Consultancy, the top software services
exporter in the country, announced that its quarterly profit
rose 20.5 percent, while its closest rival Infosys said its
quarterly net profit rose 36 percent. In results announced this
week, even smaller outsourcing companies like iGATE Global
Solutions and Aztec Software said they had nearly or more than
doubled their quarterly profits. Tata Consultancy, which is
based in Mumbai, said Tuesday that its profit for the quarter
ending Sept. 30 rose to 6.94 billion rupees ($155 million) from
5.76 billion rupees a year earlier as revenue gained 23 percent
to 29.83 billion rupees ($664 million). Infosys said its net
profit for the quarter rose to 6.06 billion rupees ($134
million) from 4.47 billion rupees a year earlier. Revenue rose
to 22.94 billion rupees ($511 million) from 17.5 billion rupees.
The chief executive of Infosys, Nandan Nilekani, said in a
statement that the company had seen robust growth in the quarter
because of its focus on offering a broad array of services to
its customers. "It took us the whole of fiscal 2004 to reach a
revenue of $1 billion; we reached the same level in the first
six months of this year," Nilekani said. Infosys also forecast
that its revenue for the year ending in March 2006 would
increase by more than 31 percent, a full five percentage points
above its previous forecast.
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