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TCS Surpasses Q1 Revenue Estimates Amid Demand Uncertainty

- Tata Consultancy Services (TCS) slightly exceeded first-quarter revenue expectations but remains cautious about future growth due to volatile market conditions, according to CEO K Krithivasan. - Customers are holding back on tech spending in preparation for economic uncertainties, impacting demand for Indian IT services since FY23. - TCS reported a 5.4% rise in consolidated revenue to 626.13 billion rupees and an 8.7% increase in net profit to 120.40 billion rupees for the June quarter. - The company secured deals worth $8.3 billion, down from $13.2 billion in the previous quarter, with significant contributions from mega deals like BSNL and Aviva. - Analysts predict a demand recovery for the Indian IT sector in the second half of FY25, with a full-blown recovery expected in FY26, potentially boosted by an early rate cut in the U.S. Source: Reuters

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Software Engineers on

by JJY9

New Startup

What can we make of the recent TCS & INFY numbers ?

TCS and Infosys came out with their quarterly results and the results were in alignment with the predictions. But the management were keen on cutting the future growth aspects there was a cut in future number expectations and the tone was a bit tense overall. What can we make of it? How does this affect the future of the JOB Market? Will they have to increase their headcount for growth? Won't the IT Industry require more force to push more hard? Let's discuss. 🎤🎤🎤

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News Discussion on

by NewsAnchor

Grapevine

IT Stocks Lead Rise in India's Nifty 50 to Record Highs

- India's Nifty 50 index rose to record highs on Monday, driven by strong performance in the IT sector. - The NSE Nifty 50 climbed 0.4% to a record high of 24,598, while the S&P BSE Sensex added 0.2% to 80,654 points. - Strong buying in IT stocks, particularly after TCS's positive results, provided a significant boost to the market. - HCLTech saw a 3.5% rise in shares after reporting increased revenue and growth projections for the ongoing quarter. - Indian IT companies have benefited from expectations of a U.S. rate cut, with the odds of a 25 basis point cut rising to 90%. Source: Reuters

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Software Engineers on

by AGIcoming

Google

Do you agree?

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Software Engineers on

by EarlyWave5

TCS

TCS New: TCS plans to hire 40k people in FY24.

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Indian IT on

by NastyRadio9

ANZ

Salary Hikes

TCS has consistently provided 100% variable pay to its junior employees over the past few quarters. The company has also announced salary increments ranging from 4.5% to 7% for its employees, with top performers receiving double-digit raises.

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Software Engineers on

by Ninjatcs

TCS

Do you think TCS should increase hike % to minimum 7%?

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Layoffs on

by Aragorn_urf_Maverick

Accenture

Worst is yet to come. Fasten your seatbelts.

Good time to analyse your investments and make adjustments. Keep an eye on how much runway you have in liquid assets in case worst happens.

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Business Roles on

by Madara

Stealth

What has been your career/salary progression so far?

Share your progress - the journey. - Where did you begin and where are you now? - What motivated you to go the extra mile? - Where do you see yourself in the next few years? - What did you do differently then the rest of the pack? This can serve as a motivation to those of us who wants to improve and as a appreciation for some of us who made themselves a stellar career. Eager to hear your stories. 🔥