News Summary: Tata Consultancy profit up 13 pct

Tata Consultancy quarterly profit up 13 percent as European business improves

Associated Press

DOUBLE-DIGIT BUMP: India's top outsourcing company Tata Consultancy Services posted a 13 percent jump in net income during the most recent quarter as activity in Europe seemed to pick up in midst of debt crisis.

NEW BUSINESS: Tata added 52 new clients in the quarter, and CEO Natarajan Chandrasekaran predicted stronger growth in fiscal 2014, which began in April.

TRENDING: Quarterly financial reports from India's IT and outsourcing companies, one of India's top industries, are being closely watched this year. The sector has suffered during a global economic slowdown, which has limited orders.

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