A promising quarter for IT/BPO cos

CIOL.Com
Many IT companies including the major players as well as mid-tier companies showed strong quarterly results for the period October to December 31, 2004. The Indian industry heaved a collective sigh of relief in November when the US election results put President Bush back into the White House- ensuring that all was safe on the offshoring front. The big four consisting of TCS, Wipro, Infosys and Satyam witnessed good growth in net profit. TCS reported net profit of Rs 709.3 crore, a 54.1 percent Y-on-Y growth for the quarter ended December 31, 2004. Bangalore majors Infosys and Wipro also fared quite well with Infy recording a 52 percent jump in quarterly net profit (Rs 497 crore) while the latter's net profit stood at Rs 427 crore representing an increase of 71 percent over the same period last year. Satyam's net profit after tax was Rs 87.51 crore signifying a whopping increase of 141.82 percent over the net profit of Rs 36.19 crore in the corresponding period of last year. more...