- Published on January 24, 2023
- In IT Services
The Macro Slowdown of TCS with Fewer Deals and Negative Headcount
Fitch Ratings, one of the top three credit rating agencies internationally, expects that TCS’ revenue growth will slow down to 11–12% in FY24, recording around a 6% decline.
- By Lokesh Choudhary
Tata Consultancy Services (TCS) recently published its Q3 2023 results, wherein the tech giant recorded a decline of nearly 2% in revenue growth in constant currency terms (i.e., exchange rate used to eliminate fluctuations when calculating the financial performance numbers) when compared to the previous quarter. From 15.4% in Q2 2023, TCS’ revenue growth decreased to 13.5% in Q3 2023 in CC value. Additionally, the company also witnessed a quarterly decline of around 2,200 employees in the total headcount, with a de-growth of 3.7% in deal bookings to $7.8 billion.
Several analysts claim that when one considers these statistics, a slowdown in the profitability of TCS in the near future is more or less inevitable.
Is the UK slowing down performance?
Fitch Ratings, one of the
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Lokesh Choudhary
Tech-savvy storyteller with a knack for uncovering AI's hidden gems and dodging its potential pitfalls. 'Navigating the world of tech', one story at a time.
You can reach me at: lokesh.choudhary@analyticsindiamag.com.
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