TCS may face slower growth in revenue, profitability over 12-18 months: S&P Global Ratings

NEW DELHI: S&P Global Ratings on Tuesday said Tata Consultancy Services NSE -1.03 % (TCS) is likely to face slower growth in revenue and profitability over the next 12-18 months, given subdued global information technology (IT) spending.

However, the Mumbai-based IT major’s robust cash position and prudent financial policies will continue to support its financial position, it said.

“We are revising our outlook on TCS to stable from positive. At the same time, we affirmed our ‘A’ long-term issuer credit rating on the company,” S&P Global Ratings said in a statement.