India's Tata Posts Big Jump In Revenue

Tata Consultancy Services Ltd., India's largest software company by revenue, announced Thursday that its revenue for the quarter ending Dec. 31 jumped 29 percent.

Net profit increased 5.6 percent. The company said it added clients from all over the world including a multiyear contract worth $847 million from the Pearl Group's life insurance back office operation.

Tata also said it had secured important banking outsourcing wins from large banks in India, China and Russia.

Tata said it added slightly more than 6,000 employees during the quarter, bringing its total headcount to almost 60,000. Another 8,000 hires are planned for the current quarter.

Net profit for the last quarter was $171.5 million (753 billion rupees). Revenue was 32.87 rupees, up from 25.52 rupees in the previous year, the software company said.