TCS reported a soft quarter after three consecutive quarters of strength, impacted principally by the pandemic-led disruption in India. Despite the revenue miss, management remains confident of strong double-digit growth given its order book and pipeline and the fact that India business is a deferment of revenue, and not a loss. The company is alluding to a multi-year technology cycle with the pandemic being a catalyst to facilitate large scale migration to cloud platform which incidentally is also paving the way for reduction in carbon footprint. We see strong tailwind for this technology bellwether that should translate into steady predictable earnings growth.
first published: Jul 9, 2021 04:30 pm
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