TCS reports decrease in $100 million revenue clients
Tata Consultancy Services (TCS) just lost a couple of its biggest $100 million clients—down to 62 this quarter from 64—but made up for it by adding a record number of smaller clients.
Now, 1,336 customers are bringing in $1 million or more each, showing TCS is still winning business even as the market gets tough.
Despite these shifts and shaky global conditions, their order book actually grew to $9.4 billion.
Revenue at TCS declined by 3.1% year-on-year in constant currency
Revenue at TCS declined by 3.1% year-on-year in constant currency to ₹63,437 crore, with operating margins holding strong at 24.5%.
While some sectors like BFSI bounced back and others shrank, the real story is in what clients want: shorter projects focused on things like generative AI.
As COO Aarthi Subramanian put it, companies now want "industry-specific AI solutions"—so TCS is leaning into tech that's fast, flexible, and ready for whatever's next.