India's top IT services firms delivered single-digit revenue growth in April-June, capping off a mixed, somewhat-sobering quarter as macroeconomic instability and geopolitical tensions weighed on global tech demand and delayed client decisionmaking. Management commentary painted a mixed picture, caution prevailed, yet industry CEOs also emphasised cost optimisation, vendor consolidation, and opportunities in AI makeovers.
Tata Sons chairman N Chandrasekaran is learnt to have discussed the engagement of outgoing TCS MD and CEO Rajesh Gopinathan with the group beyond September 15 in an advisory role, according to sources from Tata Group. Tata Sons and IT behemoth Tata Consultancy Services declined to comment on the development. Tata Group sources, who did not wish to be identified, told PTI that there have been preliminary discussions between the two as the group needs reliable and experienced hands with its diversification into various technology domains.
Indian SMBs spent $11.9 billion in 2010 on IT and it is expected to grow to $48.5 billion by 2015.
TCS will manage Diageo's global IT infrastructure, data centres and servers, in addition to providing service desk support to employees, TCS said in a statement.
TCS said employee addition during the quarter stood at 18,362
Hero MotoCorp's promoter Pawan Munjal emerged as the highest paid director.
Impact of the slowdown is most visible among promoter/owner-CEOs
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