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Mumbai, Jan 16 TCS ended the third quarter of the fiscal with a hedge position of $ 3.1 billion, at a rate slightly higher than Rs 40 to the dollar, said Mr S. Mahalingam, Chief Financial Officer.

In the previous sequential quarter, the figure had been $ 2.6 billion.

The rupee had appreciated by 12 per cent against the US dollar in the last 12 months, noted a statement from TCS. “The company is focused on long-term financial management and TCS improved its operating margins despite a 2.3 per cent appreciation in the rupee against the US dollar in Q3,” he said.

On apprehensions of a US slowdown impacting Indian IT majors, Mr Ramadorai, CEO & MD, said that none of the company’s clients had shown any inclination to delay or postpone their projects. In fact, some clients are ramping up their offshoring plans to cut costs in the wake of a possible slowdown.

TCS is chasing 25 deals upward of $ 50 million each, said Mr. N Chandrasekaran, COO. These are split evenly across geographies and across various service verticals, he said.

During the quarter currently ended, the company signed up 54 new clients.

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