TCS results Q4 2016: After experiencing volatility in its Indian business for the past many years, top software exporter TCS today said its revenue from domestic market crossed $1 billion last fiscal and expects a "decent" performance from the vertical in 2016-17 fiscal.
TCS results Q4 2016: After experiencing volatility in its Indian business for the past many years, top software exporter TCS today said its revenue from domestic market crossed $1 billion last fiscal and expects a “decent” performance from the vertical in 2016-17 fiscal.
“We have done well, and have grown over 2 per cent on a sequential basis. So, it is good. As we move forward, I can’t predict (if) the momentum will be consistent, but on a year-on-year basis, it will do decently well,” Managing Director and Chief Executive N Chandrasekaran told reporters.
He further said the domestic revenue now occupies 6.2 per cent of the overall topline pie and it grew 9.8 per cent to over USD 1 billion last fiscal on a constant currency basis.
Corporates account for a bulk of the revenue from the local market, which is three to four times more than that of the government business, said Chandrasekaran.
“I think our portfolio is strong, we have a combination of corporates and government business and also a platform business. All the three aspects are growing in size and scale now,” he said.
The business of the erstwhile CMC has also been fully- integrated with TCS, giving it a leg-up in the domestic market through the synergies.
It can be noted that a lot of IT players have complained about the domestic market not being very supportive. Some say the government contracts are not properly drafted while some have complained of payment issues.
“In the past, I have said that it is changing but has not happened,” he added.