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India drives TCS growth buzz

Economic TimesEconomic Times · 4m
India drives TCS growth buzz

- TCS, India's largest software exporter, reported a 5% YoY increase in net profit to Rs 11,909 crore in Q2. - The company's revenue surpassed expectations, posting consolidated revenue of Rs 64,259 crore, a 7.6% YoY growth. - TCS cited the ramp-up of its deal with BSNL as a key driver for its performance, while clients in America and Europe remained cautious with technology spends. - Margins for TCS shrank to 24.1%, marking the second consecutive quarter of contraction. - The company added 5,726 employees in Q2, bringing the total employee count to 612,724 at the end of September. Attrition increased to 12.3%. - TCS mentioned a positive outlook with signs of improvement in financial services in North America and expects better performance in Q2 of FY25.

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