Rank - 112 : Ness Technologies

Lower (than expected) revenue from Europe was the major reason for Nesss
underperformance in the first three quarters. This was attributed mainly to the
slowdown and more pertinently the foreign currency translation effects on
non-dollar revenues. However, there was a 11% sequential quarterly revenue
growth with an all-time record operating cash flow. Interestingly, even during
the downturn, the company setup a SEZ in Bengaluru to cater to its clients like
Amadeus, Perform, INSEAD and Thomson Reuters.