Tata Consultancy Services Ltd.

Tata Consultancy Services (TCS), a leading IT services, business solutions and outsourcing firm, is reportedly foraying into the government vertical in the US. The company has already made some headway into the city taxation space in the US through which cities collect taxes on behalf of the federal, state and local governments and is currently implementing tax automation systems in seven cities across the US. 

Besides India, the company has also worked with a few countries in east Africa, including Uganda, Zambia and Kenya, in automating their taxation systems. Although this business unit has up till now been a single-digit contributor to company’s overall revenues, the company aims to turn this unit to a double-digit revenue contributor in the next three years.

For the year ended March 31, 2013, the company has posted a rise of 16.49% in its net profit at Rs 12786.34 crore as compared to Rs 10975.98 crore for the same period in the previous year. Total income has increased by 24.19% at Rs 50656.53 crore for year under review as compared to Rs 40789.41 crore for the period ended March 31, 2012.