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    TCS disappoints in Q1 but demand traction looks intact

    TCS

    Synopsis

    The country’s largest software exporter posted $ 6,780 million in revenue for the quarter compared with analysts’ average expectation of $6,824.5 million. In constant currency (CC) terms, it grew by 3.5% sequentially, but in reported terms, the growth was just 1.3% reflecting the impact of weaker pound and euro against the dollar during the quarter.

    ET Intelligence Group: The June quarter performance of Tata Consultancy Services (TCS) was below expectations, marred by cross-currency headwinds and higher employee costs amid soaring attrition. On the positive side, the demand traction remained intact while the company continued to expand headcount, reflecting sustained revenue visibility. The stock may come under pressure in the short term in response to the disappointing quarterly show, but
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    The Economic Times