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Tata Consultancy Services revenue spurt continues

Corporate IT spending seen remaining robust as investors fear Ukraine war fallout

Russia's invasion of Ukraine has sent crude oil prices soaring, exacerbating inflation and raising concerns that companies could respond by cutting costs and reducing IT budgets. (Photo by Yuki Kohara) 

BENGALURU -- Revenues at India's largest information technology company, Tata Consultancy Services, crossed half a trillion rupees for the first time in the January-March quarter, driven by increasing sales to financial services, retail and technology clients.

TCS said on Monday that its revenues for the quarter were up 15.75% year-on-year to 505.91 billion rupees ($6.67 billion), above expectations. Net profit fell short of forecasts, however, with a 7.3% increase to 99.59 billion rupees ($1.31 billion). A Bloomberg poll of analysts pointed to a 100.77 billion rupee net profit on revenues of 502.49 billion rupees.

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