Published by: Priyanka Deshpande
Shares of Tata Consultancy Services (TCS) Ltd. on Thursday (October 12) closed with losses of over 1.5%. Take a look at why the stock is under pressure post results.
TCS reported a decline of 0.2% in dollar revenue, a first in 13 quarters
Despite bagging some big deals, TCS management doesn’t seem confident of a revenue recovery in the second half of the year
TCS headcount fell by 6,333 during the September quarter, the most in two decades
Stock had been gaining sharply in the last 45 days. TCS shares are up 8% since August-end compared to the 2.5% rally in the Sensex
TCS has delayed hiring of freshers & is hiring fewer people to improve profit margin
“When topline visibility is not good, it’s best to focus on margin,” TCS CEO Krithivasan said.
Organisational restructuring, aligned with customer requirements, TCS CHRO said.