Reported about 18 hours ago
Tata Consultancy Services (TCS) reported a 12% increase in net income to ₹123.8 billion, falling short of analyst expectations during a typically weak quarter for outsourcing. Despite a 5.6% rise in sales, caution among overseas clients about IT investments persists due to factors like high interest rates and global conflicts. TCS's CEO expressed optimism for the year ahead, citing improved client confidence in IT spending and shorter deal cycles, though external challenges, particularly regarding H-1B visa rules and potential U.S. economic conditions, remain a concern.
Source: YAHOO