For the first time since 2019, TCS sees a fall in Sep quarter margins

Tata Consultancy Services Ltd (TCS) on Thursday kicked off the quarterly earnings season for India’s technology services companies, recording a sequential decline in profit as equipment costs doubled and revenue from the Americas fell.

India’s largest software services company reported a net profit of $1.43 billion for the September quarter, down 1.59% from the preceding quarter. This is the first time in five years that the company has ended the September quarter with a sequential decline, though its net profit has been slipping since the March quarter of this year.