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India's Tata Consultancy Services Q3 profit misses view

Tech services group first of its Indian peers to report quarterly results

Market participants are watching TCS for signals on the demand outlook for India's tech services sector.   © Reuters

BENGALURU (Reuters) -- India's Tata Consultancy Services on Monday reported a lower-than-expected profit for the third quarter, as clients tightened spending amid a challenging macroeconomic environment that prompted the country's top IT exporter to reduce its workforce.

TCS is the first among its peers to report quarterly earnings, setting the tone for the industry, which had been riding a pandemic-led boom in demand.

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