TCS is seeing recovery in its business, but at a slow pace, said its chief operating officer N Chandrasekaran in an exclusive interview.
For the first time after TCS announced that Chandrasekaran would take over as the CEO this October, he spoke about the company?s acquisition plans and forex hedging strategies. As the IT sector is grappling with fewer orders and longer sales cycles, TCS believes that there?s some recovery, even though it?s somewhat unpredictable. ?The overall decline is slowly getting arrested. We can see some recovery, but cannot predict the slope of this recovery,? said Chandrasekaran. He attributed the erosion of IT revenues largely due to the volatile rupeedollar fluctuations. And in the past four quarters, most of TCS? revenue have been impacted by the company?s hedging strategy. However, it has no plans to change its forex positions.
Source: The Economic Times
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