Friday 24 April 2020

*UKHotViewsExtra*– TCS looks beyond COVID-19

TCSFollowing on from TCS’s annual results (see - TCS breaks $22bn mark as growth slows) we caught up recently with UK & Ireland Head, Amit Kapur, to discuss the UK results for FY 2020 and in particular how the Group and its clients are dealing with COVID-19.

Firstly, the results - The UK remains one of TCS’s largest and most important markets and although growth slowed last year the Group still posted very respectable double-digit year-on-year growth for the UK of 10.4% (22% in FY19). This translated into total UK revenue for the year of £2.76bn (£2.5bn in FY19).

Amit KapurThe fourth quarter, which ran till the end of March, overlapped with the start of the Coronovirus outbreak in the UK and saw TCS post revenue of £691m, which saw quarterly growth slow to 1.3% QoQ and 6% YoY. 

TCS continues to benefit from the large UK mega deals won over recent years, many of which have been in Banking and Financial Services. Growth, however, has been broad based with clients in the Communications, Travel, Retail and Utilities all contributing. The same can also be said for service lines, seeing growth in those areas most closely aligned to digital -  in its TCS Interactive, Intelligent Automation, Security, Cloud Apps, Micro services and API practices. Here scale is being added to many of the practices that TCS launched two years back. 

Another “big feather in TCS’s cap” last year was being recognised by the Sunday Times as one of 25 Best Big Companies to Work for in UK. TCS has always taken the learning and development of its staff very seriously and will no doubt be delighted with this recognition in its first year of entering. 

Moving onto COVID-19 - all IT and Business Process Service providers are being challenged like never before and TCS is no exception. TCS’s traditional model has seen some 400,000 staff spread out over a large number of integrated co-located workplaces. The pandemic has provided TCS with both the need and opportunity to shift this model.…..more

HV PremiumUKHotViews Premium and research subscribers can read more of our analysis on how TCS and its clients are dealing with COVID-19 here.

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Posted by Marc Hardwick at '14:56' - Tagged: results   covid-19