The first quarter results of FY 19 of IT majors TCS and Infosys were out and let’s take a look at how they have performed.
TCS
India’s #1 IT services company has opened Q1, FY 19 with a bang. Commenting on the Q1 performance, TCS CEO and MD, Rajesh Gopinathan said: “We are starting the new fiscal year on a strong note, with the growth engine firing on all cylinders. Our Banking vertical recovered very nicely this quarter, while other industry verticals maintained their momentum. With a good set of wins during the quarter, a robust deal pipeline and accelerating digital demand, we are positioned well for the future.”
“Customers across verticals and markets are embracing our Business 4.0 thought leadership framework and accelerating their digital transformation journeys. Our contextual knowledge, full spectrum capabilities and investments in research and innovation are making us their preferred partner for their growth and transformation initiatives, “ added Gopinathan.
N. Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said: “It has been an excellent quarter, with broad-based growth across all segments and good client additions. We are seeing strong demand in areas like cloud transformation, cyber-security and data privacy, and automation. Our investments in forward-thinking doctrines like the Machine First Delivery Model (MFDM™) and Location-independent Agile are giving customers immediate, measurable business benefits and speed to market.
V. Ramakrishnan, Chief Financial Officer, said: “Disciplined execution, accelerating growth and currency support helped us mitigate the impact of wage increases during the quarter. This strong start gives us greater confidence in our ability to get our operating margin to our preferred range, while continuing to fund the digital investments that are differentiating us in the marketplace.”
Q1 SEGMENT HIGHLIGHTS
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