TCS net falls 3.6% on fragile BFSI

TCS net falls 3.6% on fragile BFSI

Dmitry Bagrov, managing director of DataArt UK said M&S could lose a lot of knowledge if its technology transformation programme plan is to bulk outsource technology.

Rajesh: We have been maintaining our margins and our cash conversion has been impressive.

"We wrapped up 2017 with a strong performance in the December quarter, marked by the signing of industry-defining deals, robust client metrics and broad-based demand across industry verticals".

Our focus has been on talent management, skill building and on digital side.

It is also placing a bet on IT sector to reap benefits from the major reform that will be brought to the US Tax Bill, which is expected to cut the corporate taxes from 35 percent to 20 percent that would provide more room for businesses to increase their budget for IT spending.

Also the third quarter is traditionally considered soft because of the number of holidays in key global markets that Indian IT players typically serve. Other two important wins for the quarter are the tie-ups with a large European and an Australian Bank. IT-services companies use the constant currency method to eliminate the effects of exchange rate fluctuations while calculating the results.

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The retail and consumer products vertical showed a strong turn around, growing 6.4 per cent quarter on quarter while most industry verticals grew above company average in the quarter. The BFSI vertical grew 0.2%, compared with an 8.4% growth in the year-earlier period. We have enabled improved speed-to-market, customer engagement and cognitive operations through our innovative technology services, the TCS BaNCS agile and digital platform, and our unmatched industry expertise.

"We don't see strong bottom-up signs of growth recovery".

The European market continued to lead the company's strong growth trajectory and will emerge as the second-largest market after the United Kingdom next year.

It expects HCL Technologies and Tech Mahindra to lead the pack with 2.7 percent and 1.7 percent QoQ USD revenue growth, respectively, Infosys, Wipro and TCS are estimated to grow at a slower pace of 1.4 percent, 1.4 percent and 0.7 percent, respectively. On a Y-o-Y basis, Continental Europe (+22.3%), United Kingdom (+8.2%) and India (+4.1%) performed very well.

TCS will make job offers to all of the applicable Transamerica employees now supporting the life insurance, annuity, supplemental health insurance, and workplace voluntary benefits business lines, ensuring a consistently excellent experience for Transamerica customers and protecting approximately 2,200 American jobs.

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