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Payments is an Issue for TCS

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'Getting payments on time', is the biggest problem faced by the Tata Consultancy Services (TCS) when it comes to dealing with domestic business.

Generally according to the payment specifications in the contract, domestic companies and government institutions take a lot of time to pay, said Mr S. Ramadorai, Managing Director and CEO of TCS, in an interview to Business Line.

Domestic income as a proportion of overall revenues has been declining in the last four quarters for TCS. In the December 2008 quarter, India revenues went down 11.3 per cent to INR 491.6 crores, against INR 542 crores in the previous sequential quarter. India revenues for the June 2008 quarter amounted to INR 557 crores.

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