It was quite a different story for the Indian offshore services leader, TCS, compared to Infosys (see Infosys gives up quarterly guidance in wake of horror Q1). TCS saw its Q1 revenues (to 30th June) grow by 13% yoy in USD terms to $2.73b, compared to just 5% for Infosys. Sequential growth was materially better too, at 3%, vs a 1% decline for Infosys. TCS’ operating margins followed the same trend as for Infosys, which at 27.5% were within a whisker of its smaller, but generally more profitable, peer. Oh, by the way, TCS avoids the embarrassment of missing ‘guidance’ by simply not giving any.
Much more later for eligible TechMarketView subscription service clients.
