TCS Q2 profit rises 15 % to Rs 13,884 crore as AI revenue doubles; growth remains subdued

Bengaluru: Tata Consultancy Services (TCS), India’s largest software services firm, posted a 15% rise in net profit to ₹13,884 crore in the September quarter from a year ago while revenue rose 11.2% to ₹73,188 crore, largely in line with analyst estimates. The numbers were buoyed by growth returning in a small way, especially in the largest segment of banking and financial services along with AI services, which crossed $3.1 billion on an annualised basis, accounting for about 10% of total revenue.

On a sequential basis, profit was up 4% while revenue gained a modest 1.26%. On a constant currency basis, growth was largely flat at 0.5%. This was the slowest growth in three years in the second quarter, which is a seasonally strong one.