BSNL deal revenue is set to taper, as TCS is expected to complete the project by Q4 or Q1FY26
Geographically, demand was led by India market, which grew 70.2 percent YoY in constant currency (CC) terms, followed by MEA at 15 percent, Asia Pacific at 5.8 percent and Latin America at 7 percent.
BFSI which accounts for nearly 35-40% of TCS’ revenue de-grew by 3% YoY in constant currency term; India as a geography grew by 23.4% YoY in CC
TCS said that it has commenced campus hiring process for next year to on board freshers.
TCS will be announcing its third quarter earnings for FY24 today. This quarter was largely a slow quarter for not just TCS but the IT sector overall
In terms of growth rate, while TCS is expected to end FY23 with a growth rate of over 13%, analysts at Kotak expect a moderation in growth in FY24 to 8.1% amid an increasingly slowing demand environment.
In an interview with Moneycontrol, TCS CEO Rajesh Gopinathan reflected on his years as CFO and CEO presenting earnings, stating that the one thing that is very predictable is the intensity of each quarter.