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Tata Consultancy Services (TCS), the country's biggest software services exporter, on Friday said it expected third-quarter revenue to be "in line with seasonal trends" as holidays and furloughs impact some of its key businesses.
TCS sees demand in North America to be in line with its expectations for the quarter ending December 31, 2014, adjusted for seasonal weakness, the IT services company said in a stock exchange filing after market hours.
The third quarter is seasonally weak for TCS, the country's biggest company by market valuation, due to holidays in the United States and Europe, key markets where it fights for contracts with competitors in the domestic outsourcing sector worth over US $100 billion.
Shares of TCS closed 1.66 per cent lower on the domestic bourses, which fell 0.91 per cent.
The TCS scrip had fallen 2 per cent earlier in the day on speculation that the software services company would announce a restructuring that would impact its earnings outlook.
(Reuters)
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