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FRIDAY, NOVEMBER 27, 2009

Bangalore: Tata Consultancy Services Ltd, India’s largest IT vendor will see fourth quarter results to either decline or remain flat due to impact of project cancellations from customers, a report by Citigroup Global markets said

TCS will see a difficult fourth quarter as it saw project cancellations and felt the impact of cancelled projects in the preceding quarter, said Citi analysts Surendra Goyal and Vishal Agarwal in a report on 13 March. The volumes were under pressure for TCS, the analysts said in the report after meeting the company chief financial officer.

TCS has seen new business partly compensating for degrowth in existing business; emerging geographies showing good growth and demand improving in its product business.

”As new deals (won over last few quarters) start ramping up and partly compensating for loss in business from existing clients, TCS expects FY10 revenues to be flat to modestly up,” the report said.

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Biswajit Said:


It's yet anothet bad news for TCS & the whole IT industry. But out of the context, I'm surprised that a Company like TCS couldn't assume the effect of Recession and recruited people in a large number. I would like to point out the inside story of TCS what I came to know from some of its associates. From the outside TCS looks like a Govt. Organisation and the employees are more secured than the other IT Companies. But it's totally different. The resourcing process is also terrible that they take people from one technology and force them to work in a separate technology. They just ruin the career of good resources. If you get in to the work culture of TCS, Kolkata, you'll find the real truth how the Non-Bengali Employees are treated by the topranked associates. As reported in the media so many times that Companies are over reacting to this slow down, they just got an opportunity to shack people and minimize the cost. In my opinion, the Media should strongly highlight the actual scenario of the IT Industry and especially how TCS is spoiling the career of innocent guys. Finally, I hope Mr. Ramodorai is listening all these inside stories and would take necessary steps.

Posted On 4/16/2009 1:02:07 PM