TCS CEO K Krithivasan attributed the company’s recent lackluster performance to clients deferring discretionary spends and seasonal effects. Despite this, he remains optimistic about 2025, expecting to surpass last year’s performance. Krithivasan addressed concerns about H-1B visas, noting that while the company does benefit from them, its dependence on H-1B visas is limited. He emphasized the importance of nearshore operations, citing the company’s thriving business in Mexico for North American clients.
Krithivasan also touched on the impact of technological shifts on the industry, highlighting the productivity gains achieved through automation and new tools. He emphasized TCS’s leadership in adopting these changes, having trained over 500,000 associates in GenAI. The CEO acknowledged the company’s Q3 performance was affected by seasonality and softer discretionary demand, but is confident that multiple geographies will return to growth in the medium term.