India’s largest software services exporter Tata Consultancy Services said its operations were affected by the recent Chennai floods and it would have a material impact on revenue for the third quarter ending December 2015.
“Chennai is one of the company’s largest delivery locations, with over 65,000 employees. Other than mission critical activities, the normal business functioning of our facilities in the city had to be halted all week since December 1 due to extreme weather conditions and subsequent flooding,” TCS said in a stock exchange filing. The majority of the company’s facilities in Chennai had opened from December 7, but attendance was lower than normal as employees were still recovering, it said. “This is expected to have a material impact on the company’s revenue in the seasonally weak third quarter.”
TCS is projected to report sales of Rs..27,877 crore, according to analyst estimates compiled by Bloomberg.
