TCS's Life Sciences & Healthcare segment grew at 13.8 per cent YoY. That apart, all other industry verticals showed declines. For instance, Banking, financial services and insurance (BFSI) declined 4.9 per cent, Retail & Consumer Packaged Goods (CPG) fell 12.9 per cent, Communications & Media fell 3.6 per cent, Manufacturing dipped 7.1 per cent and Technology & Services fell 4 per cent.
"We have taken a supportive approach to employees and vendors, and used other efficiency levers to limit the impact of the sharp revenue decline during the quarter, and still delivered an industry-leading operating margin. Disciplined execution resulted in superior cash conversion and a strong cash balance that positions us very well to weather the downturn," said V Ramakrishnan, Chief Financial Officer.
witnessed demand contraction in all markets, except Europe (up 2.7 per cent) and Latin America (up 0.2 per cent). Growth in North America declined 6.1 per cent while UK slipped 8.5 per cent. Indian market fell 27.6 per cent, Asia Pacific was down 3.2 per cent while Middle East and Africa (MEA) declined 11.7 per cent.
Among other highlights, the company informed that its consolidated headcount at the end of the quarter stood at 443,676 and women constituted 36.2 per cent of the workforce. The company said it trained 3,53,000 employees in new technologies. Meanwhile, IT Services attrition rate stood at 11.1 per cent LTM (last twelve months).