 | « Back to article | Print this article |
The Indian rupee is likely to appreciate further vis-a-vis the dollar in the months ahead and unless it slides, it is unlikely to have an impact on Tata Consultancy Services' topline, a top company official said.
"It is unlikely to affect the topline unless the rupee slides to the 42-43 mark," TCS' chief financial officer, S Mahalingam, said at a financial meeting in Mumbai on Friday.
TCS is a Tata group company and a global IT major.
"Over a period, a rupee appreciation is a possibility. . .unless the rupee slides back to the 42-43 range, it is not going to affect the topline," Mahalingam said.
TCS will continue to play aggressive in the domestic market and has the requisite set of skills to execute complex projects, he said, adding the company would continue to hire in its on-shore division.
TCS' revenue hedging outstanding roughly stands at $600-million, out of which $399-million is for the current year. "Out of this $399-million, we have already used $100-million this year," he said.
The company has not taken any additional hedging positions this year and will look at the option after evaluating the risk-management policy, he said.