TCS reiterates continued momentum in the BFS vertical
MUMBAI, February 9, 2016: On the eve of Nasscom's India Leadership Forum 2016 in Mumbai, Tata Consultancy Services (TCS), (BSE: 532540, NSE: TCS) a leading global IT services, consulting and business solutions organization, allayed market concerns about the state of demand in the Banking and Financial Services industry vertical by reiterating that TCS' business in the BFS vertical continues to grow well, ahead of the overall company growth.
The Company pointed out that revenues from the Banking and Financial Services industry vertical in CY 2015 grew by 15% year on year in constant currency terms. On the other hand, company-wide revenues grew 13.5% on a constant currency revenue basis in CY 15, representing absolute incremental revenue of $2.025 Bn. On an organic basis, TCS' constant currency revenue addition of $1.85 Bn is the highest in the industry in CY 15.
"Our growth in the BFS vertical is driven by our strong participation in our customers' Digital spending," said N Chandrasekaran, CEO and MD, TCS. "Our deep domain expertise, our investments in Digital, our software products in the BFS vertical combined with our capabilities in operations and technology presents a very compelling, full suite of services to customers, harnessing the power of Digital technologies to solve their business problems and deliver real value," he added.
About Tata Consultancy Services Ltd. (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™, recognized as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 344,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $15.5 billion for year ended March 31, 2015 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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