Tata Consultancy Services, India’s largest software exporters, reported a 24.1% growth in its third-quarter net profit to ₹8,105 crore compared to the year-earlier period even as on-site hiring dragged the margins down for the IT bellwether.
“I would rate this quarter growth as tepid in the short term for a strong growth in long term. The cost of manpower was bound to go up due to pressure on local hiring in the US. I expect the current quarter to be better than Q3,” Sanchit Vir Gogia, chief analyst, founder and CEO, Greyhound Research told The Hindu.
Analyst:
Sanchit Vir Gogia: Sanchit is the Chief Analyst, Founder & CEO of Greyhound Research, a Global, Award-Winning, Technology & Innovation Research & Advisory firm. To read more about him, click here.
Have a question on this or other Technology & Innovation topics? Click here to set up an enquiry call with Sanchit Vir Gogia.
Copyright © 2018 Greyhound Research. All rights reserved. You may share this research note using the options made available. Please don’t copy this research note (complete or parts) and distribute over the web and emails. Connect with us if you need clarifications.