TCS kicks off Q3 with missed estimates

Tata Consultancy Services (TCS), the country’s largest IT services firm, on Thursday missed estimates on both revenue and profit fronts, underlining continued caution among global clients amidst a challenging macroeconomic environment.

The company’s consolidated net profit rose 4% sequentially to Rs 12,380 crore, missing Bloomberg’s estimate of Rs 12,534 crore. Revenue declined by 0.4% sequentially to Rs 63,973 crore, falling short of the estimate of Rs 64,748 crore.