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Tata Consultancy Services Ltd’s second-quarter profit narrowly missed street estimates, underscoring how worries about an economic slowdown continue to curtail tech spending.Net income rose 8.7% to 113.4 billion rupees ($1.4 billion) in the quarter through September. Analysts, on average, had projected a profit of 114.09 billion rupees. Sales climbed 7.9% to 596.9 billion rupees. Shares…
Wipro, the Bengaluru-based IT firm, will implement annual merit salary increases (MSI) for its employees from December 1, after delaying the hikes, originally slated for September, by a quarter due to macroeconomic challenges and margin pressures. These hikes will be assessed on an individual basis in the coming weeks, according to an ET report.Chief Human…
TCS Q2 results today: Tata Consultancy Services (TCS), India’s largest IT firm, announced a 9% year-on-year (YoY) increase in consolidated net profit for the quarter ending September 2023, reaching Rs 11,342 crore. Consolidated revenue showed nearly 8% YoY growth, reaching Rs 59,692 crore, according to an ET report. In terms of sequential growth, revenue had…
