Real Profitability Part III: Indian players

Part III and second-to-last of this series, at least this one will be the last one with lists of figures
In the first I gave you the Big Three
(Google, Microsoft and Apple) and Four (Oracle, SAP, IBM and HP) and there was a big difference between them. Where the Big Three make an operating profit of hundreds of thousands of dollars per employee, for the Big Four this is tens of thousands - but I'll save all conclusions for my last post.
In the second I presented the classical System Integrators (from my European PoV): Accenture, Atos origin, Logica and Capgemini

In this last post, I present Wipro and Tata Consulting Services - I have to admit it was a lot of work making heads and (sic) tails of the different layouts, the rupee, and it was nice to find out that reporting in Crores means you have to multiply by 10 million, not just one million

Both report in rupees, and whereas the pound versus the euro versus the dollar means adding or subtracting a rough 30%, the rupee to the dollar has been on average 45 to 1 - not an easy calculation to make, so I am giving the figures both in rupees, as in historical exchange rate

based on the average of the noon buying rate in the City of New York on the last business day of each month during the period for cable transfers in Indian rupees as certified for customs purposes by the Federal Reserve Bank of New York

That information, as well as the rates, comes from the annual 20F report of Wipro - much obliged

• Here are the absolute figures, in rupees first, then in dollars

• Then, the relative ones, in rupees first, then in dollars

Interesting? I'd say so, in many ways. Tata is 40% better profitable than Wipro (be careful not to compare both last rows, Wipro reports an extra year, 2010) - with almost twice the amount of people.
Other than that, for a systems integrator, I remember slightly different figures and margins from last post, don't you?

In tomorrow's post, I'll pass my verdict on the Big Three, The Big Four, The Large Four, and The Great Two

And that verdict will make the future a lot more predictable