sloppysid/faiss_search huggingface dataset:
TATA CONSULTANCY SERVICES LTD. — 2023-01-11
Tata Consultancy Services Q3 FY23 Earnings Conference Call January 9, 2023, 19:00 hrs IST (08:30 hrs US ET) Is it because such deals are to do more for the same or it reflect weak demand in Europe as articulated earlier? Rajesh Gopinathan: I think it’s a combination of everything; delayed decision making, but TCV will not be as linear as revenue, which is why we have given a band of 7 billion to 9 billion where we think the TCV will remain during the course of this year and it has stayed well within that band throughout for the last three quarters. Rahul Jain: Just a clarification on this retail deal that we announced separately. Is it also reflecting the entire retail, CPG or it is only retail-specific? Rajesh Gopinathan: This includes CPG and TTH. Moderator: Ladies and gentlemen, that was the last question. I now hand the floor back to the management for closing comments. Over to you, sir. Rajesh Gopinathan: Thank you, operator. We are pleased with our performance in a seasonally weak December quarter, growing at 19.1% in INR terms and 13.5% in constant currency. Our order book was good, but softer than in the prior quarters, reflecting the cautious stance that many of our clients have taken. Our operating margin expanded sequentially to 24.5% and our net margin was at 18.6%. On the people front, LTM attrition in IT services fell slightly to 21.3% and should continue to taper down in the quarters ahead. With that, we wrap up our call. Thank you all for joining us on this call today. And I must say that you're a very mature and knowledgeable group for having resisted asking about the impact of Chat GPT on our industry. Enjoy the rest of your evening or day and stay safe. Moderator: Thank you members of the management. On behalf of TCS, that concludes this conference. Thank you for joining us and you may now disconnect your lines. Note: This transcript has been edited for readability and does not purport to be a verbatim record of the proceedings : Page 23 of 23