Mumbai: Country’s largest software exporter Tata Consultancy Services today said it was focusing on reducing volatility in its Indian business.
The IT firm has grown in all markets across the globe in the second quarter of the current fiscal, but has reported a drop in growth in India.
“We are trying to reduce the volatility in India,” TCS Chief Operating Officer N Chandrasekaran told reporters here.
Many contracts in India which TCS handles are project-based unlike others that are annuity-based. Revenues in project-based contracts are cyclical, he added.
The company yesterday declared its results for September quarter of the current fiscal. Its India business forms 7.8% of revenue whereas last year for the same period it accounted for 8.2% of the revenue.
The company is looking at its India business on a year-to-year basis rather than on a quarter-to-quarter basis, Chandrasekaran said.
The company is positive on its India business. “Huge amount of work needs to be done in India,” he added.
Ten days ago, TCS had announced its foray into a Rs1,000-crore contract with External Affairs Ministry for an e-governance project.