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Tata Consultancy Services revenue surges but profit misses estimates

Indian IT leader's operating margin shrinks on wage hikes

Indian software services provider Tata Consultancy Services reported a 16% year-on-year increase in revenue for the second quarter.   © Reuters

BENGALURU -- Revenue at India's top software exporter, Tata Consultancy Services, rose 16% year on year in the April-June quarter, shaking off fears that economic fallout from the war in Ukraine would immediately sap demand for its products.

TCS said on Friday that it posted revenue of 527.58 billion rupees ($6.67 billion) for the period. But net profit, which grew 5.2% to 94.78 billion rupees, missed estimates by a wide margin. A Bloomberg poll of analysts had estimated profit of 99.04 billion rupees.

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