Indian state-owned operator Bharat Sanchar Nigam Limited (BSNL) ordered INR150 billion (US$1.83 billion) worth of infrastructure equipment and software from IT firm Tata Consultancy Services (TCS).
Reuters reported the move by the operator was to shore itself against demand uncertainty, an issue being grappled with by India’s IT services companies. TCS had faced challenges in its “large deals” segment which consists of projects worth over US$1 billion, due to US and European clients delaying their decisions as they grapple with the slowing macro-economic landscape.
TCS reported a weaker-than-expected Q4 which it blamed on the US banking crisis, as net profit grew 14.8% to INR113.92 billion. It had reported its order books stood at US$10 billion and flagged deal wins could land it between US$7 billion to US$9 billion for the current quarter.