TCS net profit rises by 5.6

8216;8216;We have registered 2-billion revenue during the last nine months itself and are very bullish about the future,8217;8217; Ramadorai said. The company has acquired Australian banking product company FNS and Comicrom in Chile for the insurance, pensions and banking space.

8216;8216;The ramp up of these acquisitions will happen in this fiscal,8217;8217; Ramadorai said. Reacting to the news, TCS shares rose marginally to Rs 1,678 as compared to its Tuesday8217;s close of Rs 1,671.65 in a bearish market. TCS shares rose 15 per cent in the third quarter, under-performing the industry index gains of more than 19 per cent. TCS announced third interim dividend of Rs 3 per share.

Large orders since July include a 100 million contract from a financial services client, a 250 million contract from ABN Amro, a 250 million order from Tata Teleservices and a deal with the potential for 848 million in revenue over 12 years from British insurance firm Pearl Group.

TCS, with a fairly large exposure to India, including through subsidiary CMC Ltd, has also formed a joint venture with the country8217;s largest bank, State Bank of India, to sell technology to banks and financial services firms.