TCS Delivers Steady Growth in Q2
Oct 11, 2019
Mumbai: Tata Consultancy Services (BSE: 532540, NSE: TCS), the leading global IT services, consulting and business solutions organization, reported its consolidated financial results according to Ind AS and IFRS, for the quarter ending September 30, which shows a steady growth.
Commenting on the Q2 performance, Rajesh Gopinathan, Chief Executive Officer and Managing Director, said: “We ended the quarter with steady growth despite increased volatility in the financial services and retail verticals. We remain confident as the medium and longer term demand for our services continues to be very strong, as evidenced by our Q2 order book – the highest in the last six quarters.”
Industries: Revenue growth was led by Life Sciences & Healthcare (+16%) and Communications & Media (+11.8%). All the other verticals – BFSI (+8%), Manufacturing (+7.8%), Technology & Services (+5.6%) and Retail & CPG (+4.8%) – continued to grow.
Markets: Growth was led by Europe (+16%) and UK (+13.3%). North America and Asia Pacific grew 5.3% and 6.5% respectively. Emerging markets showed steady growth – India (+7.7%), MEA (+7.3%) and Latin America (+7.3%).
In Services too, the company continued to draw new customers and bag new assignments.
-India News Stream