TCS revenue up by 49%, net profit over 30%

MUMBAI: Net profit of Tata Consultancy Services, India's largest software

services firm by revenue and exports, increased by more than 30 per cent in the

past year to March, the company said in a statement issued on Monday.

Tata Consultancy Services, a division of Tata Sons, the holding company of

India's second-largest industrial conglomerate, the Tatas, is unlisted and does

not publish results. But it issued a statement containing some earnings

information to clarify what it said were "factual inaccuracies and

incorrect conclusions" in a recently published newspaper report.

"TCS' profits grew by more than the industry average of 30 per cent in

2000/01, despite its revenue base being much higher than that of its major

competitors," a Tata group statement said.

A group spokesman told Reuters that TCS' revenue during the year was ($666.53

million), up 48.55 per cent from Rs. 21.15 billion the previous year. Infosys

Technologies, Wipro, Satyam Computer Services are, respectively, India's second,

third and fourth largest software exporters.

(C) Reuters Limited 2001.