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Thursday, September 29, 2011

TCS, Cognizant and Wipro record top revenues

Indian IT companies post an increase of 19 per cent in its total revenue during financial year 2010-11

Tata Consultancy Services, Cognizant and Wipro were the top IT companies with revenues of Rs.29,801 crore, Rs.25,477 crore and Rs.21,393 crore revenues, respectively while IT companies posted an increase of 19 per cent in its total revenue at Rs.4,38,296 crore ($96.1 billion) during financial year 2010-11, said a research report, according to IANS.

The annual research report of industry journal Dataquest, the flagship publication of CyberMedia has informed "the growth is a significant bounce-back for the industry which recorded just 8 percent growth in 2009-10, in the wake of the global recession in 2009 and 2010, which made both global and Indian companies cut back on their IT spending."

According to the report, exports accounted for 66.4 per cent of the industry while the domestic market accounted for the remaining 33.6 per cent. Also the domestic market has grown 23 per cent with the revenues of Rs.1,47,152 crore while the exports reported Rs.2,91,144 crore, growing at 17 per cent.

However, Hewlett Packard India stood as the largest IT player in the domestic market while Tata Consultancy Services as the largest exporter from India.

Also, when IT services exports grew at 21 per cent, engineering services exports grew 22 per cent and BPO exports grew 7 per cent. Consumer technology segments also witnessed an impressive growth.

However, in the competitive landscape where IT giants like TCS , Wipro and smaller players are in an intense competition with each other, technology major Infosys's growth has witnessed a slow ride in the recent quarters. Due to the economic slowdown in the US and Europe the company's clients might curb their budget plan on information technology this year, feared the company CEO S.D. Shibulal once. More than 80 per cent of the revenues in India's IT sector usually comes from the markets like U.S and Europe.

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