About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

TCS Reports 10.3% Revenue Increase for Third Quarter of 2009

Subscribe to our newsletter

Tata Consultancy Services (TCS) may have lost a few of its key staff to other vendors in 2009, but it seems that staff turnover didn’t affect financial turnover for the quarter ending 31 December: the vendor experienced a 10.3% increase in revenue on the previous year’s figures. The vendor’s revenues were at US$1.64 billion for the quarter and net profits increased on the previous year’s figures by 38.9% to US$384 million.

Of course, TCS’ business is not entirely from the financial services sector and CEO and managing director, N Chandrasekaran, reckons this diversified customer base may be why it performed so well. “TCS yet again posts high growth and delivers on margin improvements for the third successive quarter in this difficult year. Our investments ahead of time in emerging markets, multiple industries and client relationships is reflected in our exemplary performance,” he explains.

The total number of new clients across all of its business areas was 32 by the end of the year, although only a small percentage of these were for the vendor’s corporate actions solution. The vendor announced in September that it had upgraded its B?NCS platform, which underlies all of its capital markets solutions including its corporate actions offering: TCS B?NCS for Corporate Actions. The vendor bagged three new clients for the year for the solution and, according to Chandrasekaran, is hopeful that 2010 will see many more signing up.

The news for the year was not all good, however, as the vendor lost a couple of its executives: one to corporate actions solution rival Information Mosaic and another to Swift.

Consultant Manmohan Singh left to help Information Mosaic establish a new office in India, bringing with him his management team in order to establish the new development facility for the vendor in New Delhi. Ex-head of TCS’ global consulting practice, Arun Aggarwal left to become Swift’s new managing director for the UK, Ireland and the Nordics.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Hearing from the Experts: AI Governance Best Practices

9 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes The rapid spread of artificial intelligence in the financial industry presents data teams with novel challenges. AI’s ability to harvest and utilize vast amounts of data has raised concerns about the privacy and security of sensitive proprietary data and the ethical...

BLOG

Modern Data Landscape Comes Under Scrutiny at Data Management Summit London

From data products and marketplaces to the new challenges of regulatory compliance and the latest thinking on unstructured data, A-Team Group’s Data Management Summit London 2025 took in the full breadth of topics that chief data officers and their teams are dealing with daily. With a line up of C-suite executives and expert speakers from...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...