Tata Consultancy Services Ltd , India’s top software services exporter, on Thursday reported a record quarterly profit helped by gains in its key banking, financial services and insurance (BSFI) division and said it was well positioned for 2019 with a strong pipeline of client orders.
TCS, considered the crown jewel of the salt-to-autos Tata Group, kicks off the December-quarter corporate earnings period for Indian businesses with rival Infosys Ltd scheduled to report on Friday.
“Overall a strong quarter to wrap up the calendar year and a strong pipeline and strong order flow that sets us up nicely going into the new calendar year,” Chief Executive Rajesh Gopinathan told a news conference.
Demand for TCS’ banking and insurance services is strong in the company’s biggest market of North America, Gopinathan said.
Uncertainties such as Brexit could affect clients’ tech spending in continental Europe and Britain, but Gopinathan said while it was difficult to predict how macro factors would play out the company was actively taking up opportunities in that region.