Tata Consultancy Services Ltd.'s revenue rose meeting estimates, even as macro headwinds and furloughs weighed in a seasonally weak quarter.
Performance Metrics
TCS has reported double-digit growth in emerging markets, led by India (23.4%), Middle East and Africa (16.0%), Latin America (13.2%), and Asia Pacific (3.9%).
Among major markets, the U.K. led with 8.1% growth, continental Europe grew 0.5%, while North America saw a decline of 3%.
The growth has been led by energy, resources and utilities (1.8%), manufacturing (7.0%), and life sciences and healthcare (3.1%). Consumer Business Group, BFSI, communications and media grew, while technology and services reported negative growth.
AI Cloud led the demand among service lines, with strong momentum sustaining for cloud migration and increasing interest among customers for AI and Generative AI, TCS said.
As of Dec. 31, the company has applied for 7,852 patents, including 187 applied during the quarter; and has been granted 3,458 patents, including 305 granted in Q3.
On Thursday, TCS shares rose 0.61% to Rs 3,736.20 apiece on the BSE, even as the benchmark Sensex ended the day 0.09% higher. The quarterly results were declared after market hours.
(Corrects an earlier version that misstated revenue growth.)
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