TCS may grow in single digits this fiscal year: CEO K Krithivasan
Tata Consultancy Services (TCS) may grow in “very moderate single digits” in this fiscal year, according to CEO K Krithivasan who assumed office in June. The 59-year-old executive’s term comes amid one of the most testing years for the IT services industry, which is faced with slowing demand for its offerings worldwide.
This could mean that TCS could register its slowest annual growth ever, more so as the first two quarters have been “very muted” and the next two quarters are expected to be seasonally weak for the entire sector, Krithivasan told ET in an interview. Edited excerpts:
Elevate Your Tech Prowess with High-Value Skill Courses
Offering CollegeCourseWebsiteNorthwestern UniversityKellogg Post Graduate Certificate in Product ManagementVisitIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitIndian School of BusinessISB Product ManagementVisitThe dollar revenue for TCS this quarter declined for the first time since 2019. Will it be the slowest growth that TCS has ever witnessed?
The last two quarters have been very muted. The second half is seasonally weak. I won't be able to call out whether H2 will be weaker than H1. We have got enough deal wins on our side. It all depends a lot on sentiments. If the sentiments improve, you will see the projects that are getting paused will deliver growth.
We continue to look for opportunities to maximise on the existing demand even in the current circumstances. We are not looking at a very strong growth given the first two quarters have been very moderate. It will be a single-digit growth obviously, but we have to wait and watch.
How do you see the restructuring within the organisation
