It was a mixed week for the Indian IT industry. While the results of Bangalore-based Infosys, which is always the first IT company to declare earnings, reflected the acute pressure that software companies are facing because of a tumbling euro and rising wages, TCS seems to have coped better.
Infosys reported a 2.4% decline in net profit to Rs 1,488 crore but raised the revenue forecast it made in April. While TCS net profit rose a better-than-expected 24% to Rs 1,906 crore for the April-June quarter and N Chandrasekaran, CEO and managing director of India’s largest software exporter, said volume growth of 8.1% was the best the company had seen since September 2008.
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Infosys reported a 2.4% decline in net profit to Rs 1,488 crore but raised the revenue forecast it made in April. While TCS net profit rose a better-than-expected 24% to Rs 1,906 crore for the April-June quarter and N Chandrasekaran, CEO and managing director of India’s largest software exporter, said volume growth of 8.1% was the best the company had seen since September 2008.
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