IT giants TCS, Infosys see profits soar

MUMBAI, Apr 15 (AFP): India's biggest software exporters reported a surge in net profits on Friday thanks to strong revenue growth and a slew of big new deals.

Tata Consultancy Services (TCS), India's largest IT outsourcing firm, said profits for the quarter ending March 2019 rose 17.7 per cent from the same period a year ago.

The Mumbai-based company notched 81.26 billion rupees ($1.18 billion) in consolidated net profits for Q4 of financial year 2018-19, up from 69.04 billion rupees on-year.

TCS said its revenues has grown 18.5 per cent for the quarter year-on-year.

"This is the strongest revenue growth that we have had in the last fifteen quarters," said CEO Rajesh Gopinathan in a statement.

"Our order book is bigger than in the prior three quarters, and the deal pipeline is also robust," he added.