TCS, Airtel among six Indian cos in BusinessWeek IT-100

Six Indian companies figure in this year’s list of the top 100 global Information Technology (IT) companies, compiled by Business Week magazine. The listing places Tata Consultancy Services (TCS) at ninth spot in terms of return on investment or profitability while telecom major Bharti Airtel stands third on the parameter of shareholder returns.

According to Business Week, TCS has been on a tear ever since it went public in 2004. With a 41 per cent growth in revenues to $4.3 billion this last fiscal, the company has notched up an impressive 46 per cent return on equity, placing it at ninth spot in terms of profitability, and 23rd place in overall rankings.

Communications major Bharti Airtel has ranked third in the category of shareholder returns, for its robust 131.7 per cent returns. With revenues of $2620 million, the company has gone on to bag licenses to provide wireless services in emerging markets like Sri Lanka, the Seychelles and the Channel Isle of Jersey.

Despite pressure from two fronts — a stronger rupee cutting into margins and competition from Chinese and Philippine firms — software bellweather Infosys Technologies,too, has managed an overall rank of 30. The company’s revenues grew by 46 per cent to reach $3121.7 million, while profits stood at $866 million.