Macro uncertainty from US trade policies
Potential increase in inflation due to trade tariffs or uncertain government policies could dampen discretionary spending recovery.
TCS / Q3-FY25 / risks
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TCS · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
BSNL revenue tapering impact
The BSNL contract tapering from Q4 could create a revenue gap; management is confident of replacement but execution risk remains.
North America revenue decline
North America revenue declined 2.3% YoY, and TTH slowed considerably in the US due to market-specific issues and strained client profitability.
Life sciences and healthcare recovery uncertainty
Life sciences healthcare declined 4.3% YoY; recovery depends on policy clarity in the US, which is uncertain.