Posts tagged "Results"

Future of TCS PADA Deal Remains Uncertain

TCS (NSE:TCS) CEO N. Chandrasekaran sounded optimistic when he said during an interview that TCS had not seen an impact from the Europe debt crisis among its clients. Particularly since the company’s multi-million dollar UK outsourcing contract with PADA appears to have been in jeopardy for quite some time. On the second of July, N. Chandrasekaran was quoted saying that, “Overall, from an economy overview, we have not seen any impact of the current European situation on any of our clients.” A report late last week from Ovum however, indicated that budget cuts by the current UK government will likely […]

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Infosys Disappoints: Economic and Operational Problems Affect Results

Expectations were high for the end of quarter results of India’s number two outsourcer, Infosys (NASDAQ:INFY). As the first of its peers to release quarterly results, the outsourcing company is responsible for setting the tone for India’s outsourcing sector. It was therefore a big disappointment when Infosys announced a 2.6% drop in profit for the period of April to June 2010. Prior to the release, forecasts were positive and the market was optimistic about the company’s results. According to a Reuters (NYSE:TRI) poll of brokerages, the company’s profit was expected to be at around 15.56 billion rupees or $330 million, […]

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