covid-19 crisis

While TCS pulls out GFC playbook, investors should brace for worse

Reading now: 227
www.livemint.com

Tata Consultancy Services Ltd has a tradition of burning its fingers trying to provide qualitative guidance to investors, rather than quantitative ones that peers such as Infosys Ltd and Wipro Ltd provide.

Wipro said on Wednesday that it is withdrawing its practice of providing quarterly revenue guidance because of all the uncertainty covid-19 has caused.

But TCS has stepped up on the task of providing indicators. It said the percentage drop in the near term could be like that during the global financial crisis (GFC), or even worse.

This implies huge declines in revenues in the June and September quarters on a year-on-year basis. And then it added that year-on-year growth rates could begin to look flattish in the December and March

Read more on livemint.com
The website covid-19.rehab is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News

DMCA