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TCS To Beat IT Industry Growth Average This Fiscal, Says CFO

India's largest software exporter Tata Consultancy Services (NYSE:TCS) today said it was confident of beating the IT industry average growth this fiscal. Industry body Nasscom had earlier estimated that Indian IT firms' growth will be close to 11 per cent in 2012-13. Even as IT giants across the world have been concerned over slowdown in US and Europe, TCS said it has an indication that customers were not planning to cut spending in technology. S Mahalingam, chief financial officer and executive director at TCS said that the company may incur a foreign exchange loss of around Rs 30-35 crore in the current quarter due to currency volatility but, then, added that the software giant may also sustain its margin at 27 per cent. The company has hedged its exposure to the forex fluctuations through plain vanilla put option.

TCS