India’s largest IT services company, Tata Consultancy Services (TCS), experienced a significant drop in deal wins during the first quarter of FY25. The order book stood at $8.3 billion, marking an 18.6% decline from the year-ago period and a 37% decrease from the previous quarter. In contrast, the March quarter of FY23 saw a record-high order book of $13.2 billion.
Despite this decline, TCS reported growth across various geographies. Demand was led by the Indian market, which grew 61.8% year-on-year (YoY) in constant currency terms. Other regions, including the Middle East and Asia Pacific, also contributed to TCS’s performance. However, core markets like North America faced a slight decline.
Among verticals, the banking, financial services, and insurance (BFSI) sector continued to slip, declining 0.9% YoY. Meanwhile, regional markets showed robust growth. Manufacturing, life sciences, healthcare, and energy resources and utilities all posted positive YoY figures.
TCS remains committed to expanding client relationships, investing in innovation, and creating new capabilities in emerging technologies.