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Media Reports
Tata Infotech Ltd. the flagship company of Tata group has undertaken major restructuring programmes, to overcome its recent financial setback. Although the financial result of the current financial year is yet to be announced, as per the financial performance of the last fiscal, there is almost a drop of more than 70 per cent in the profit after tax in the financial year of 1999-2000, from Rs.46.05 crore in the financial year 1988-1999 to Rs.12.12 crore in the financial year 1999-2000. The major factor behind the company's poor performance could be the break up of a business relationship with its ex alliance partner USA based, Unisys Inc. Tata Infotech was largely dependant on Unisys for its overseas business. With the exit of Unisys, the company has decided to go on its own and has started its operations in USA and Europe. Speaking to The Asian age about the future plans of the company, Tata Infotech managing director, Dr. Nirmal Jain, said "Despite the set back in the recent past, we are confident of overcoming this situation. We have already initiated steps in this regard. The major thrust area of our overseas business in next 2-3 years will be to market our own products like customer view, tax mantra, and XML would be given a new push." To recover lost ground, the company has invested heavily in opening offices and developing the marketing network in USA to recover its business in the overseas market. The company is also planning to enter into the new and emerging technology areas like e-business. Customer Relationship Management, natural language Processing. DSS, XML it and Wireless Application Protocol. Mr. Jain added, "We also continue the furtherance of our research and development initiatives on our products and will integrate our product and services within our Software Solution and System Integration projects." The major business area of the company is software exports, system integration, software training and manufacture of hardware like Electro Mechanical products and ATM machines. The company is the leading system integrator of the country providing services in the areas of Banking, Finance, Insurance, manufacturing and Telecom. The company's educational division called Tata Infotech Education, which was previously called Tulec, is mainly into providing software education and training to students all over the country.
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