In further good news for Indian IT professionals, the country’s top four IT services companies – the largest employers in the technology sector – all reported increases in Q3 profits (for the quarter ended December 31, 2020), pointing to better times ahead.
The net profit of Tata Consultancy Services, India’s largest IT services company both in terms of revenues and market capitalisation, grew a healthy 7.18 per cent to $1.2 billion compared to the previous corresponding quarter.
In keeping with past practice, the company did not provide any guidance for the future but reading between the lines of TCS CEO Rajesh Gopinathan’s statement did seem to point to optimism about the quarters ahead.
“Growing demand for core transformation services and strong revenue conversion from earlier deals have driven a powerful momentum that helped us overcome seasonal headwinds and post one of our best performances in a December quarter. We are entering the new year on an optimistic note, our market position stronger than ever before, and our confidence reinforced by the continued strength in our order book and deal pipeline,” he said.