INFORMATION TECHNOLOGY CONSOLIDATION: BEGINNING OF THE END? (it has been projected that only around 50 information technology firms are likely to grow from 2003).

The information technology (IT) industry of India is consolidating. The performance of most of the companies in the 3 months ended 31 Dec 2001 has been depressing, with hundreds of companies, including Silverline Technologies, Tata Infotech, Pentasoft Technologies, Sonata Software, Aztec Software, Pentagon Global, Soffia Software and Mascot Systems, registering a fall in their profits. Ramco Systems, Online Media, PSI Data Systems, S Kumars Online, Zenith Infotech, PSI Data Systems, Cybertech and Advent Computer, among other companies, suffered losses. CMC recorded a 400 percent increase in its net profit, while MphasiS BFL recorded a 160 percent rise in its net profit. Satyam …