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TCS experiences 2.51% share drop after earnings report
TCS just reported a 6% rise in profits for the first quarter—hitting ₹12,760 crore—thanks to a one-time tax boost.
Strangely though, the stock still dropped over 2%, and the entire IT sector slipped as market indices fell.
TCS's revenue growth is slowing down
Even with profits up, TCS's revenue growth is slowing down (up just 1.3%, but actually down if you adjust for currency).
Revenue has been impacted by global uncertainty and losing a big BSNL contract.
Still, TCS is sharing some love with investors through an ₹11 per share dividend and says they've scored $9.4 billion in new deals.
CEO K Krithivasan admits times are tough but says they're betting big on AI and new projects to bounce back.