TCS profit rises 6% in Q1

Infosys ADRs dropped 3.7 per cent to $18.13, while Wipro's fell 4.4 per cent to $2.94 at 20.15 hrs IST.

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In terms of the order book, the total contract value (TCV) for the quarter stood at $9.4 billion, in line with expectations and up 13 per cent Y-o-Y. In Q1FY25, the TCV was $8.3 billion.

K Krithivasan, TCS' chief executive officer and managing director, said: "During our last press meet, we had spoken about delays in decision-making and project starts in terms of discretionary investments. This trend has continued and intensified this quarter, with global business facing disruptions due to conflicts, economic uncertainty, and supply chain issues."

TCS said new service lines, such as artificial intelligence (AI), cybersecurity, data, and modernization, are seeing more investments from clients, although the company did not quantify the deals.