TCS Q4 order book declines 7% YoY to $12.2 billion, but beats estimates

The TCV for the quarter was 7.5 percent lower than the $13.2 billion reported in the year-ago period and was up 19.6 percent from the previous quarter, the company said on April 10.

In Q4, some of the deal wins include a modernisation project with Muscat Clearing and Depository (MCD), a five-year partnership with Air New Zealand, extended partnership DNB Bank ASA, end-to-end IT transformation project with UPO, among others.

K Krithivasan, Chief Executive Officer and Managing Director, said, “We are pleased to cross the $30 Billion in annual revenues and achieve a strong order book for the second consecutive quarter."

"Our expertise in AI and Digital Innovation, coupled with the unmatched knowledge of customer context and global scale makes us the pillar of support for our customers in this environment of macroeconomic uncertainty. We remain committed to staying close to our customers and helping them achieve their core priorities,” he added.

Geographically, demand was led by India market, which grew 33 percent YoY in constant currency (CC) terms, followed by MEA at 13.2 percent, Asia Pacific at 6.4 percent and Latin America at 4.3 percent and UK and Continental Europe, which grew 1.2 percent and 1.4 percent respectively.

North America, which accounts for nearly 50 percent of TCS’ revenue continued to decline by 1.9 percent YoY.