Data innovation administrations major Tata Consultancy Services (TCS) has reported a sharp ascent in unexpected liabilities because of expense requests. The figure dramatically increased to Rs 8,148 crore toward the end of FY16 from Rs 3,963 crore the earlier year.
Notwithstanding the questioned charge requests, the Rs 6,227-crore ($940-million) claim by Epic Systems Corp that the organization has debated and hopes to safeguard, was likewise accounted as an unforeseen obligation for the year.
Thus, add up to unforeseen liabilities shot up to Rs 15,021 crore toward the end of FY16 (Rs 15167.92 crore at the merged level). This spoke to a three-fold increment over the earlier year. In correlation, Infosys reported unforeseen liabilities of Rs 188 crore on a standalone premise (Rs 340 crore merged) for FY16.
Read more at: http://dollaradvisory.com
Notwithstanding the questioned charge requests, the Rs 6,227-crore ($940-million) claim by Epic Systems Corp that the organization has debated and hopes to safeguard, was likewise accounted as an unforeseen obligation for the year.
Thus, add up to unforeseen liabilities shot up to Rs 15,021 crore toward the end of FY16 (Rs 15167.92 crore at the merged level). This spoke to a three-fold increment over the earlier year. In correlation, Infosys reported unforeseen liabilities of Rs 188 crore on a standalone premise (Rs 340 crore merged) for FY16.
Read more at: http://dollaradvisory.com
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