TCS posts profit bump as client spending slowly recovers
India’s Tata Consultancy Services (TCS) reported a better-than-expected quarterly profit on Thursday, with Asia’s largest outsourcer helped by a weak rupee and a slow improvement in the global demand ...
Tata Consultancy Services (TCS) reported a profit surge for the July-September quarter, with the IT giant earning nearly 15% more than expected. As India's largest outsourcer, TCS benefits from a weaker rupee and a gradual recovery in global demand. The majority of TCS's revenue comes from Western clients, and the company has faced challenges due to geopolitical uncertainty and the rise of AI tools.
Nonetheless, TCS's profit for the quarter rose to 138.84 billion rupees, or $1.43 billion, compared to the forecasted 137.86 billion rupees. Revenue for the period also increased by 11.2% year-on-year, reaching 731.88 billion rupees, marginally above the anticipated 731.48 billion rupees. The company's strong performance can be attributed to "broad-based growth" across international markets and various industry segments. TCS CEO K Krithivasan attributed the results to "broad-based growth."
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