India's outsource giants feeling the pinch

[OhioChick]

July 19, 2008 6:09 PM PDT

India's outsourcing giants are suffering sluggish growth in contrast to record-breaking spending on global services in 2008.
The country's big three outsourcers Infosys, Tata Consultancy Services, and Wipro experienced slow revenue or income growth in their just-announced quarterly results for the period that ended June 30.

The results fly in the face of figures in the quarterly index by outsourcing adviser TPI, which shows global spending on outsourcing is on track to break records in 2008, with Europe forging the biggest contracts.

All three of the Indian outsourcers blamed challenging global economic conditions, with Infosys warning the next quarter may continue to be difficult as companies postpone decisions on outsourcing.

Wipro experienced a rise in profits of 15 percent over the same period last year, growing to $187.5 million. Infosys reported revenue of $1.16 billion, up 24.5 percent over the same period last year. Tata's profit was up just 2 percent to $296 million.

http://news.cnet.com/Indias-outsource-giants-feeling-the-pinch/2100-1014_3-6244002.html

[Skittles]

1. GOOD

they need to also blame crappy service/products too

[OhioChick]

2. Yep.

You get what you pay for.

[Skittles]

3. hilarious when I am asked why so many SEV1s and FUBARs

HELLO.....that's what you can expect when you pimp off jobs to the lowest bidders