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.