Global headwinds take a toll on TCS revenue in June quarter

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Tata Consultancy Services announced an expansion in net profit by 5.9% on year to Rs 12760 crore in the first quarter of the current financial year even as India’s largest software exporter recorded a decline of 3.1 % in revenue which dropped to Rs 63, 437 crore. The revenue contraction, which fell for the third consecutive quarter in dollar terms to $7.4 billion, is due to global businesses being “disrupted due to conflicts, economic uncertainty and supply chain issues,” top executives said.

While the ongoing tariff negotiations with the United…



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Global headwinds take a toll on TCS revenue in June quarter


Tata Consultancy Services announced an expansion in net profit by 5.9% on year to Rs 12760 crore in the first quarter of the current financial year even as India’s largest software exporter recorded a decline of 3.1 % in revenue which dropped to Rs 63, 437 crore. The revenue contraction, which fell for the third consecutive quarter in dollar terms to $7.4 billion, is due to global businesses being “disrupted due to conflicts, economic uncertainty and supply chain issues,” top executives said.

While the ongoing tariff negotiations with the United…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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