Tata Consultancy Second-Quarter Profit Misses Estimates

Tata Consultancy Services (TCS), one of India's largest IT services companies, reported a 1.4% increase in its quarterly earnings, missing analyst estimates. The sluggish demand for IT services and the anticipated impact of changes in the US visa program, which could affect the company's operations, contributed to the lower-than-expected profits. The company's net profit stood at 65.86 billion rupees ($804 million) for the three months ended September 30, compared to 64.93 billion rupees a year earlier. Revenue grew by 3.2% to 461.53 billion rupees. TCS, which derives a significant portion of its revenue from the US market, is closely monitoring the potential changes to the H-1B visa program, which allows companies to temporarily employ foreign workers in specialty occupations. The company is preparing to adapt its business model to mitigate the impact of these changes on its operations. Despite the challenges, TCS remains committed to delivering quality services and maintaining its position as a leading IT services provider in the global market.