TCS profit rises 15% in July-September quarter

Tata Consultancy Services said profit rose nearly 15 percent year on year in the July-September quarter, as India's largest software outsourcer reported stronger revenue.

The Mumbai-based company said quarterly profit reached 138.84 billion rupees, or $1.43 billion. Revenue for the three months ending September 30 rose 11.2 percent from a year earlier to 731.88 billion rupees.

TCS chief executive K Krithivasan said the results were helped by “broad-based growth” across international markets and most industry segments. Chief operating officer Aarthi Subramanian said the company's annualised AI revenues now exceed $3 billion.

TCS earns most of its revenue from Western clients. Indian IT companies have faced weaker traditional technology spending in recent years, while investing in artificial intelligence tools that they hope will bring new business and improve efficiency.

The rupee has fallen around seven percent against the dollar this year. Indian IT firms usually bill clients in foreign currencies while paying some costs, including salaries, in rupees.