TCS reports 4.4% revenue growth in June quarter

TCS’s year-on-year revenue grew by 4.4% in constant currency in the June quarter compared to the year-ago period. Quarter-on-quarter, it grew 2.2% in constant currency.
But even as India’s largest IT firm achieved all-round growth, it is treading cautiously in determining whether it’s too early to declare sustained growth momentum as market conditions haven’t significantly changed since the previous quarter. “We are quite happy with the overall growth across all verticals and markets. It’s too early to call whether the growth momentum is sustainable because market conditions continue to remain the same as they were in the last quarter.
So, there is nothing new to add in terms of market sentiments. But we believe FY25 will be better than FY24,” TCS CEO K Krithivasan said in the earnings call. The UK recorded robust growth of 6%, while continental Europe saw a modest increase of 0.9%. In contrast, North America faced a decline of 1.1%. Emerging markets, including India, Asia-Pacific, the Middle East & Africa, and Latin America, maintained their growth trajectory, reinforcing the company’s diversification strategy. Among these, India has emerged as the bright spot, with revenue surging by an impressive 61.8% compared to the previous year, led by the mammoth £1.5 bn BSNL deal it won last year for deploying 4G networks across India.