TCS revenue falls 3%, HCL’s rises 5% in Q3

BENGALURU: TCS posted a muted showing in a seasonally weak Dec quarter marred by furloughs, while HCLTech emerged as a bright spot, with management underscoring resilience in demand.

Global uncertainty weighs on spending, but demand for technology-led transformation remains strong, with discretionary spends emerging selectively even as cost-takeout deals dominate client priorities. Both firms’ net profit came under pressure, dragged by exceptional charges and restructuring costs.