spot_img

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.

spot_img

SUBSCRIBE NOW

Related articles

Reddit relocates headquarters

Reddit's headquarters is being relocated from its current 78,000-square-foot office at 1455 Market Street at San Francisco's Mid-Market...

Meta launches Meta Verified in U.S.

Meta has launched its subscription service in the United States, allowing Facebook and Instagram users to pay for...

Biden administration threatens TikTok with U.S. ban

According to a source confirmed by Axios, the Biden Administration has warned that TikTok may face a ban...

Meta to cut another 10,000 jobs, says Zuckerberg memo

In a memo announcing another 10,000 job cuts, Mark Zuckerberg described the near future for Meta employees as...

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