TCS on track for double-digit growth in current fiscal year
India’s largest information technology services firm, Tata Consultancy Services Ltd (TCS), is targeting double-digit revenue growth in this fiscal year without having to sacrifice its industry-leading profitability. N. Ganapathy Subramaniam, TCS chief operating officer, said TCS is confident about its outlook due to the higher growth rate with which it started the current fiscal year, as well as its healthy deal wins. The company started the current financial year with a 3.6% growth rate in constant currency terms compared to the 2.8% rate in April of last year. This is the highest at which TCS has started a fiscal year in five years since growing 15% in 2014-15. Subramaniam said a higher number of deal wins in the last twelve months should help the firm achieve strong growth. TCS said it won USD21.9bn worth of deals in 2018-19. According to Subramaniam, TCS is roughly a percentage point more this year in exit rate and is still focused on achieving double-digit growth.