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.