Ongoing global financial crisis has forced Tata Consultancy Services Ltd (TCS) to revise its capital expenditure plans for the current financial year. The chief Executive Officer and Managing Director of TCS, Mr S. Ramadorai said that the company may delay some projects following the international crisis. He said that the financial crisis would impact all companies in the world, irrespective of geographical boundaries. The company is employing various cost cutting measures to improve efficacy and productivity. He ruled out any retrenchment drive by the company in the near future.

TCS is optimistic to increase the utilization rate of resources to 83 percent in this quarter from 81 per cent in last quarter. It is still optimistic for improvement in the banking, financial services and insurance (BSFI) segment but it would pay special attention to the technology segment. TATA would accept the proposals of long-term contracts with clients in banking and financial service segment but it would never compromise the quality of its services.

The shares of company closed at Rs 534.80 on National Stock Exchange reporting 0.4 per cent increase on Tuesday.