Will focus on cost management, efficiency: TCS CEO

After achieving a double-digit growth in the first quarter, IT services firm Tata Consultancy Services (TCS) wants to reflect on internal processes and ensure its investments are returning value. In a conversation with BusinessLine, TCS CEO Rajesh Gopinathan talked about how he is taking a strategic call to divide management focus and work on improving efficiencies. Excerpts:

Your growth in BFSI and North America has slowed. What are the challenges that you’re facing?

There is moderation on the capital markets side. People are uncertain about how it is going. We had called it out last quarter. That softness is actually increased during the quarter. A lot of impact in North America is coming from BFSI and retail. Manufacturing is doing very well for us in North America. Overall, I would say there is weakness volatility in the environment. We hope retail will bounce back next quarter. We’ll wait and watch BFSI.