The Indian Wire » Business » COVID-19 impact : TCS revenue growth slows in 2020, says N Chandrasekharan

COVID-19 impact : TCS revenue growth slows in 2020, says N Chandrasekharan

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Tata Consultancy Services has recorded only a 3.5% increase in revenue for 2020. This is massive decline compared to the double-digit rise in the 2019 fiscal.

Revenue from Tata Sons, subsidiaries and associates grew only close to Rs 2656 crore. In comparison to the 13% growth of Rs 2566 crore in 2019, 2020 seems tiny.

The pace of growth in revenue has hit a speed-bump despite N Chandrasekaran’s best efforts. The Chairman of Tata Sons, and has brought about more collaboration between grouped companies since 2017.

TCS has heavily invested in new indigenous technology transformations and projects which are still underway.

Analysts say that TCS’ revenue contribution for Government contracts has witnessed sharper growth spurts. Consider the software services provider increased revenue contribution from public sectors, this is not a surprise.

However, TCS does not disclose revenue contributions from any government contracts.

If in case TCS grows its revenue contribution from Tata Sons, the overall percentage contribution would be negligible. Considering the sheer scale of the software exporter, one can’t say otherwise.

Even if TCS were to increase its revenue contributions from Tata Sons, it would be insignificant due to its size.

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