TCS placed among world''s top 10 profitable IT companies

25 June 2007

Mumbai: Tata Consultancy Services (TCS), India''s largest software services company, has been ranked among the world''s top 10 profitable firms by BusinessWeek magazine. TCS also ranks 23rd among world''s 100 leading IT companies.

TCS was the only Indian company ranked among the top 10 most profitable companies with a return on equity of 46 per cent, a TCS release said.

Mumbai-based TCS, which went public in 2004, has been growing rapidly with 41 per cent rise in revenues at $4.3 billion for the fiscal year ended March 31, 2007.

TCS has the largest network of delivery centres outside of India among all Indian firms. In Latin America alone it employs more than 5,000 people, most of them locals, and it just announced a new service delivery centre in Mexico.

"TCS is focused on delivering the best results for our global customers. This recognition from BusinessWeek is testament that our dedication to customers is helping to fuel our global growth and success, TCS CEO and MD S Ramadorai said.

The results are to be seen against a strong rupee that has helped curb profitability of IT firms in the country.TCS said the rupee''s appreciation against the dollar will erode earnings as almost all of the company''s sales are generated overseas.