Re appreciation will impact operating margins, says TCS CEO
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The recent rupee appreciation against the US dollar may put pressure on the operating margins of IT firms such as Tata Consultancy Services, said N Chandrasekaran, its CEO and MD.
"It will put pressure... but we have enough levers to deal with it as long as it is in a narrow band," said Chandrasekaran. The rupee has appreciated 4% against the dollar so far in September.
The company expects the operating profit margins to be flat-to-slightly lower sequentially in the July-September quarter.
On his outlook for the quarter, he said, "We will see a slight shift to onsite hiring."
The company reaffirmed that the hiring target of 50,000 in the current financial year remains intact.
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