News: TCS signing new deals above average rate

(BL 17/04/2007) Mumbai - Tata Consultancy Services Ltd on Tuesday said that it is signing new deals at 5 per cent-10 per cent above its average billing rate.

"All our renegotiations (for existing deals) are coming in at about 3 per cent-5 per cent (above average billing rate)," a top official said. The company's average billing rate is at $30 per person per hour.

TCS on Monday posted a 44 per cent on year rise in fourth-quarter net profit to Rs 1,195 crore on revenue of Rs 5,162 crore, up 39 per cent on year.