Tata Consultancy Services (TCS) continued with its double-digit revenue growth in constant currency terms but missed the dollar revenue estimates in the June quarter. Its margins also contracted, mostly due to an appreciating rupee and wage costs.
The company's Chief Operating Officer, N GANAPATHY SUBRAMANIAM, tells Romita Majumdar how the currency hardening took TCS by surprise and yet it was able to kick in efficiency levers, including offering moderate variable pay to the top 10 per cent employees. He says the banking, financial services, and insurance (BFSI) verticals will continue ...
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