India IT Leaders Confident On Digital Services Growth

Share post:

Indian IT leaders Infosys and Tata Consultancy Services (TCS) have both expressed high optimism that technology spending will continue to rise, predicting massive spending on digital services, particularly the cloud.

Infosys, a major player in India’s $190 billion-plus software services industry, completed deals worth $2.53 billion in the three months towards the end of December.

In announcing its profit for the December quarter, TCS reported a 12.3% increase in consolidated net profit to 97.69 billion rupees, slightly below analysts’ forecast of 98.44 billion rupees.

Infosys increased its consolidated net profit in the third quarter by almost 12% to 58.09 billion rupees, exceeding average analyst estimates of 57.05 billion rupees.

Consolidated revenue from operations at TCS jumped 16.4% to 488.85 billion rupees, while Infosys posted revenue of 318.67 billion rupees.

TCS and Infosys have gained international recognition by providing cost-effective solutions to problems such as the Y2K bug for Western customers.

For more information, read the original story in Reuters.

Featured Tech Jobs


Related articles

China approves Broadcom-VMWare merger, last hurdle is cleared

The long-anticipated merger between Broadcom and virtualization giant VMware has been approved by Chinese regulatory authorities, marking the...

Elon Musk’s X sues Media Matters over report linking ads to extremist content

Elon Musk's X has initiated legal action against the progressive watchdog group Media Matters, in response to an...

OpenAI aggressively pursues Google AI talent with offers up to $10 million

In a bold move to bolster its AI expertise, OpenAI is reportedly offering lucrative compensation packages, potentially worth...

Booths axes self-scan machines for human cashiers

Supermarket chain, Booths is axing almost all of its self-scan machines in favor of human cashiers. The company,...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways