TCS contract wins slip 21% to $9.5 billion this quarter
TCS saw its contract wins slip by 21% this quarter, landing $9.5 billion in new deals, down from last quarter's $12 billion, but just above last year and right in line with expectations.
Even with the slowdown, TCS is still locking in big projects and staying competitive.
TCS AI revenue rises to $2.6B
Some standout wins included an $800 million AI deal with SKF and a new partnership with ServiceNow.
AI is clearly a big focus: TCS's annualized AI revenue jumped 13.6% to $2.6 billion this quarter.
Revenue overall grew nearly 14% year over year to ₹72,275 crore, beating estimates.
Net profit dipped slightly due to a one-time legal cost, but adjusted profits actually rose by over 8%.
CEO K Krithivasan says their investments in AI and cybersecurity are helping TCS stay strong even when the market gets bumpy.