The country's largest software services exporter, Tata Consultancy Services...
The country’s largest software services exporter, Tata Consultancy Services (TCS), on Friday said its revenue for the December quarter was “expected to be in line with seasonal trends” as some of its key verticals were set to be impacted by holidays and furloughs.
The December quarter is generally considered weak for IT services exporters due to holidays in key markets like the US and Europe.
The banking, financial services and insurance (BFSI) vertical, which accounts for a majority of its revenues, would be impacted by weakness in insurance and products while retail, manufacturing and hi-tech verticals would feel the impact due to holidays and furloughs, the IT major said in a BSE filing.
However, the company expects telecom — and smaller verticals — to register higher growth during the quarter.
By geography, TCS expects demand in North America to be in line with its expectations for the quarter ending December 31, adjusted for seasonal weakness.
“Europe (is expected) to grow better than average while the UK remains weak due to seasonality and impact of insurances,” TCS said.
The TCS stock closed down 1.48%, at Rs 2455.70, on the BSE on Friday. The benchmark Sensex fell 0.91% to 27,350.68.