Country's largest software services major Tata Consultancy Services (TCS) on Friday said the company is doubling down the investments in the life sciences and healthcare space.
The company today reported a muted 0.2 percent growth in consolidated net profit at Rs 8,118 crore for the third quarter ended December 2019. This is against a net profit of Rs 8,105 crore in the year-ago period.
In an interview to CNBC-TV18, Rajesh Gopinathan, chief executive officer and managing director, said, "TCS has been investing continuously in our own organic talent building capability. Over time, our investment into the group of 5-12-year-old people has been significant as this has been going on for the last 5-6 years. So, we believe that that pool now is very strong and there is an opportunity for us to expand the base. On the other side, we have also invested in significantly increasing our capability to onboard trainees using the TCS National Qualifier Test Platform."
"Essentially, the story is in BFSI vertical and retail as rest of the verticals are firing on all cylinders and they are all well into the double-digit space. So, in these two areas, we are seeing very diverse performance across geographies and sub-segments and we think that there is an opportunity. Actually, the weakness can be isolated down to the large banks and the large retailers in US and UK, so it is a fairly limited sub-segment, it is just that the sub-segment forms a fairly large part of our base. However, we are not losing market share there, we are participating in their transformational agenda," he added.
NG Subramaniam, chief operating officer, said, "What is more important to drive margins is the operational levers that we have, the execution capabilities that we have and the kind of hiring capability that we have. We also have all the infrastructure that we have to continue to excel on the operational levers. I think that should be the focus for driving margins up."