Revenue growth was the slowest in eight quarters at 0.5% QoQ and 6.8% YoY vs. 11% in FY19. BFSI and retail continued to be weak, growing at 5% YoY.
TCS (NSE: TCS) won orders worth US$6BN in 3Q, which was steady but growth moderated to 2% YoY vs 23% YoY order-book growth in 1H FY20.
EBIT margins were at strong 25% and were up 100 bp QoQ. However, total headcount declined 1% QoQ, which may have partly aided margins.
TCS continues to see near-term softness but is confident of capturing the longer-term market opportunity. TCS would likely grow revenue in FY20 by 7.5% vs 11% in FY19, a 350 bp deceleration.
Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.
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