TCS Profit Beats Estimates In Q3 On Higher Demand For Cloud Computing

Tata Consultancy Services (TCS) on Friday reported a 7.2 per cent jump in its profit for the final quarter of 2020, as India’s top software services firm benefitted from greater demand for its cloud services during the Covid-19 pandemic.

The results kick off India’s corporate earnings season for the December quarter, a seasonally weak period for the software industry, but one which analysts reckon has been good for IT firms in 2020 because in part due to the Covid-19 crisis.

TCS and rivals, Infosys and Wipro, have been winning more large contracts from businesses that are investing in services such as cloud-computing and cybersecurity to support their shift to remote work.

“Growing demand for core transformation services … have driven a powerful momentum that helped us overcome seasonal headwinds,” TCS Chief Executive Officer Rajesh Gopinathan said in a statement to the stock exchanges.

Comments

Post a Comment

Popular posts from this blog

EzyStayz Kicks Off Its First Exchange Listing With Foblgate

Image
EzyStayz joins forces with DexOne to launch new tokens on Korean exchange Foblgate Press Release – updated: Apr 21, 2020 14:00 EDT SYDNEY, April 21, 2020 (Newswire.com) – The only Australian-owned global holiday rental website “EzyStayz” has released their own cryptocurrency “EZY” which will be launching on the Korean exchange Foblgate on the 21 April at an introductory price of 0.005 USD. EzyStayz has 1 million listings in 205 countries around the globe, which include 80,000 + destinations worldwide and 1982+ Hotels Chains & Boutique resorts. EzyStayz has enhanced its travel experience by introducing gaming elements to its product offering a different marketing approach towards their customers allowing them to play and win their accommodation booking for free. Foblgate is one of the largest exchanges in South Korea, a country that is responsible for approximately 35% of all global crypto trading. Foblgate is soon to announce a partnership with Binance, so it is a gre...
Read more

ETF Securities offers Australian investors first access to India growth story

Image
SYDNEY, June 21 – ETF Securities is offering investors a unique opportunity to tap into the world’s fastest growing major economy with the launch today of Australia’s first India equities Exchange Traded Fund. Listed today on the Australian Securities Exchange with the code NDIA, the ETF is a partnership between ETF Securities and one of India’s largest asset managers, Reliance Nippon Life Asset Management (RNAM). “India is the most dynamic economic growth story globally, but, until now, it has been difficult for investors to access,” said Kris Wales by, Head of ETF Securities Australia. “This product offers investors the chance to gain exposure to a $US2.6 trillion economy that still has tremendous potential to grow as India reaps the benefits of structural reforms,” Walesby said. The World Bank has forecast India’s economy will grow by 7.5% in 2019/20, and by the same amount in fiscal 2020 – ahead of China’s projected growth of 6.2% and 6.1% respectively over the same period. “India...
Read more

Vivo V20 Pro India Launch Confirmed for December 2: Expected Price, Specifications

Vivo V20 Pro is set to launch in India on Wednesday, December 2, the Chinese company confirmed through a media invite. The flagship Vivo phone was unveiled alongside Vivo V20 at an event in Thailand in September. Key highlights of Vivo V20 Pro include dual selfie cameras, the Qualcomm Snapdragon 765G SoC, and 33W fast charging support. The smartphone also comes preloaded with a list of camera-focussed features that include Dual-View Video, Slo-Mo Selfie Video, Super Night Mode, and Motion Autofocus, among others. Vivo V20 Pro India launch date As per a ‘block your date’ invite sent to the media, the Vivo V20 Pro India launch will be held on December 2. The company is likely to host a virtual event to announce the arrival of the new phone.
Read more