India: Tata Consultancy 4Q Net Profit rose 4.7%
According to WSJ: “Tata Consultancy Services Ltd. said Monday its fiscal fourth-quarter net profit rose 4.7% from a year earlier but painted a gloomy picture for the current fiscal year due to the global economic meltdown.
TCS, India’s largest software exporter by revenue said it expects a fall in its billing rates in the current fiscal year which began April 1. “
“Tata Consultancy Services Ltd. said”. The keyword here is said They could say whatever they want. Today everybody knows they are all full of sh*t.
As opposed to fine and honest American corporations, huh?
Corporations in America have to deal with FASB/SEC/etc. There aren’t such comparables in India.
And this country is full of lawyers ready to sue on a class action lawsuit. In India, the corporation would just bribe the judge and win the case.
Corruption exists in America but it’s nowhere near what it’s like in India.
Dont’ believe anything India says.
Each indian H1B visa worker brings 2-5 (at least) familiy members to this country. They are bringing Indian caste system mentality to the US. What should happen to make our lawmakers to understand this simple thing?