TCS reported better than expected numbers for the October-December quarter, despite this being a seasonally weak one for IT companies due to furloughs and the holiday season. Its third-quarter revenue was the best in 9 years and its EBIT Margins for the same period were the best in 5 years. TCS CEO Rajesh Gopinathan told journalists he was very confident about 2021 and that the software major is aspiring to grow in double-digits again. Its attrition rate too touched an all-time low of 7.6%.
“Growing demand for core transformation services and strong revenue conversion from earlier deals have driven a powerful momentum that helped us overcome seasonal headwinds and post one of our best performances in a December quarter. We are entering the new year on an optimistic note, our market position stronger than ever before, and our confidence reinforced by the continued strength in our order book and deal pipeline, Gopinathan said in the earnings release.
Updated Dec 19, 2020 | 22:21 IST
ET Now Managing Editor Nikunj Dalmia spoke to TCS Chief Operating Officer (COO) NG Subramaniam on how Covid rebooted India’s IT sector after the Covid-19 pandemic. TCS COO N Ganpathy Subramaniam | Photo Credit: Twitter
India’s largest IT services company, Tata Consultancy Services (TCS) has played an important role in the country’s traction to a digitally-enabled economy. TCS is at the center of country’s financial, healthcare services, consumer business and others. From providing digital solution for government’s passport services to enabling digital payment platforms in India.
India’s largest software exporter, TCS, also provided technology solutions for government’s myriad public welfare schemes such as Jan Dhan Yojana, Ayushman Bharat. In the last two decades, TCS has emerged as an important partner of in the country’s insurance sector as well with more than 50% of claims being settl
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TCS launches digital bank guarantee platform in Israel 10 December 2020
Source: Tata Consultancy Services Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting, and business solutions organization, has launched a new transformative Digital Bank Guarantee platform, powered by the Quartz® Blockchain solution, as part of the Banking Service Bureau (BSB), operated by TCS for the digital banking industry in Israel.
Bank Hapoalim, Israel’s largest bank that currently manages more than 30% of the total bank guarantees in the country, has signed up as the anchor customer for the platform.