On January 13, 2005, Mr. S Ramadorai, CEO and Managing Director of Tata Consultancy Services, Ltd. (TCS), announced quarterly profits of $162 million (7.09 rupees) for the period ending December 31, 2004. With 72 new clients, revenues for the period rose 38% to 25.8 billion rupees.
TCS, which was established in 1968 as a division of Tata Sons (now the TATA Group) and went public in 2004, has a presence in 32 countries across five continents. With 500+ active clients, including six of the Fortune Top 10 companies (GE is TCS's largest client), TCS is India's largest outsourcing company. 72 of the 506 are new clients added during the reporting period.
In a January 24, 2005, interview that took place in Toronto and was published by Mumbai-based Rediff.com, Ramadorai championed the growing relations between TCS and Canada and announced the opening of Canada's fourth TCS office in Vancouver, British Columbia. TCS has more than 8,000 employees in North America, with over 100 in Canada. TCS's Canadian operations, which currently serve 20 clients, were launched seven years ago and generate about ten percent of US revenues.