India’s largest software exporter Tata Consultancy Services (TCS) reported a 1.8% increase in its net profit to ₹8,042 crore for the second quarter, a metric that may impact the company’s target of achieving a double-digit growth this fiscal. The rise in profit was below street expectations as the July-September quarter had historically been the strongest one for Indian IT services companies. The slower pace of rise in profit was due to a drag in the BFSI and retail verticals and margin contraction. Life sciences and healthcare grew 16% and communications and media at 11.8%. The rest of the verticals grew in single digits.

Source: The Hindu October 10, 2019 17:26 UTC