TCS June-quarter profit up 4.61% at ₹13,349 cr, stocks rally
TCS just dropped its June-quarter results, and the numbers got everyone buzzing: net profit is up 4.61% at ₹13,349 crore, and revenue jumped nearly 14%.
That good news sent the Nifty IT index up over 3% on Friday, with TCS shares rising as much as 3.71%.
Other big names like Infosys, Tech Mahindra, HCLTech, and Wipro also saw their stocks climb in the morning rally.
TCS annualized AI revenue $2.6 bn
TCS's growth came from strong demand in banking and finance (BFSI), favorable currency movements, and landing big deals, including an $800 million AI project with SKF.
Their annualized AI revenue hit $2.6 billion this quarter as more companies jumped on board.
CEO K Krithivasan admitted Q1 had its challenges, but sounded optimistic for more client spending soon.
New AI partnerships with Anthropic and Mistral have analysts predicting even bigger things ahead for India's IT sector as AI adoption speeds up.