India's IT and outsourcing company Tata Consultancy Services (TCS) has reported a net profit of Rs 1,116 crore for the third quarter ended December 2006 as compared to Rs 1,019 crore, quarter to quarter basis. While briefing to the media it said the growth of 47% net income has been possible by dint of its several multimillion dollar outsourcing contracts between October and December. It has signed two deals worth $100 million during the third quarter. TCS has also bagged $100 million order from Chinese bank. S Ramadorai, CEO, TCS on the occasion said that they had another quarter of exceptional (or should I say spectacular) performance and has become the first ever Indian IT company to clock $1 billion in revenues in a single quarter. TCS has also crossed the $3 billion mark in the first three quarters alone, S Ramadorai told media persons.
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