TCS among 10 most profitable firms
Tata Consultancy Services is also ranked among leading global IT firms by global magazine BusinessWeek.business Updated: Jun 25, 2007 15:25 IST
Tata Consultancy Services (TCS) has been ranked among the leading global IT companies by global magazine BusinessWeek besides being the only Indian entity to be listed among the world's top 10 profitable firms.
BusinessWeek in its '2007 Information Technology 100 listing' has placed TCS on 23rd position among world's leading IT companies. TCS was the only Indian company ranked among the top 10 most profitable companies with a return on equity of 46 per cent, a TCS release said in New Delhi.
According to BusinessWeek, ever since TCS went public in 2004, the Mumbai-based company has been on a tear. It's growing rapidly with 41 per cent rise in revenues to $4.3 billion for the fiscal year ended March 31.
Of all of the Indian tech-services outfits, TCS has the largest network of delivery centres outside of India. In Latin America alone it employs more than 5,000 people, most of them locals, and it just announced a new service delivery centre in Mexico.
TCS CEO and MD S Ramadorai said: "TCS is focused on delivering the best results for our global customers. This recognition from BusinessWeek is testament that our dedication to customers is helping to fuel our global growth and success.
First Published: Jun 25, 2007 14:58 IST