Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.


Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence


Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Indian Software Giants Trumpet Strong Growth Momentum

IT companies, now facing a margin squeeze in traditional outsourcing, are helping global clients to transform legacy businesses using digital services, automation and artificial intelligence.


Updated:April 13, 2019, 1:16 PM IST
Indian Software Giants Trumpet Strong Growth Momentum
File photo: Tata Consultancy Services (TCS) Chief Executive Officer Rajesh Gopinathan attends a news conference announcing the company's quarterly results in Mumbai. (Image: Reuters)

Mumbai/Bengaluru: Technology duo Tata Consultancy Services (TCS) and smaller rival Infosys expect continued strong growth in the new financial year, they said on Friday after posting strong fourth-quarter numbers.

IT companies, now facing a margin squeeze in traditional outsourcing, are helping global clients to transform legacy businesses using digital services, automation and artificial intelligence.

Analysts have previously said that digital services will be a driver for almost all top technology companies in the country and could translate into a strong deal pipeline in coming quarters.

TCS,the country's biggest software exporter, said the company has achieved healthy order flows across multiple segments and from all major markets including Europe, the United Kingdom, India and the Middle East.

"That's one of the big things that give us the confidence about the momentum we see," TCS Chief Executive Rajesh Gopinathan told a Mumbai news conference.

The company reported record quarterly profit for the three months to March 31 at 81.26 billion rupees ($1.17 billion), up from 69.04 billion rupees last year.

Analysts on average had expected profit of 80.11 billion rupees, Refinitiv Eikon data showed.

The Tata group's most profitable company posted a more than 18 percent revenue jump in the quarter - its strongest revenue in the past 15 quarters. TCS also ended the period with a fuller order book than in the past three quarters, the company said.

Gopinathan said the company's most important market - the banking, financial services and insurance segment (BFSI) - has a "fairly strong" outlook.

Mumbai-based TCS and Bengaluru-headquartered Infosys gained prominence by giving Western clients low-cost solutions to problems such as the Y2K bug and then gradually helped to shape changes in international business as outsourcing expanded.

Infosys reported net profit of 40.74 billion rupees for the quarter, against 36.9 billion rupees a year earlier. That compared with an average estimate of 39.56 billion rupees by 33 analysts, Refinitiv Eikon data showed.

Infosys CEO Salil Parekh said that India's second-biggest software exporter expects its digital business to maintain high double-digit growth in the future.

"We are at a much more stable place (from where) we were 12 months ago," he said. "We had given ourselves a three-year period to become fully functioning in terms of stability, momentum and acceleration."

Infosys expects full-year revenue to rise by 7.5-9.5 percent on a constant currency basis, with an operating margin of 21-23 percent, the company said on Friday.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

| Edited by: Ahona Sengupta
Read full article
Next Story
Next Story

Also Watch

Most Active
Company Price Change %Gain
TCS 1,986.85 -0.88
Indiabulls Hsg 209.90 7.45
Infosys 814.80 4.05
IndusInd Bank 1,223.20 -0.43
Yes Bank 39.60 -3.30
Company Price Change %Gain
Indiabulls Hsg 209.95 7.67
Yes Bank 39.60 -3.30
TCS 1,987.05 -0.87
IndusInd Bank 1,223.25 -0.46
Bandhan Bank 583.40 15.08
Top Gainers
Company Price Change %Gain
Cipla 441.35 4.55
Vedanta 147.05 4.18
Infosys 814.80 4.05
Tata Motors 121.30 3.85
ONGC 129.00 2.79
Company Price Change %Gain
Infosys 815.70 4.19
Vedanta 146.95 3.96
Tata Motors 121.35 3.81
ONGC 129.10 2.95
Tata Steel 339.40 2.94
Top Losers
Company Price Change %Gain
Yes Bank 39.60 -3.30
IOC 143.40 -3.24
GAIL 124.95 -1.88
M&M 560.10 -1.05
Zee Entertain 242.50 -1.02
Company Price Change %Gain
Yes Bank 39.60 -3.30
M&M 559.80 -1.19
TCS 1,987.05 -0.87
Reliance 1,352.40 -0.73
IndusInd Bank 1,223.25 -0.46

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results