TCS revenue slips 1.6% on weak tech spends
The country’s largest IT services provider, Tata Consultancy Services (TCS), on Thursday reported its weakest revenue growth since the start of FY21 for the April-June quarter, as global macroeconomic uncertainty, geopolitical tensions, and the winding down of the BSNL deal weighed on its top line. Revenue for the quarter declined 1.6% sequentially to Rs 63,437 crore, missing Bloomberg’s consensus estimate of Rs 64,655 crore and marking a 3% drop on a constant currency basis.
