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Labour Code impact drags TCS, HCLTech profits in Q3

Financial Express Mumbai

January 13, 2026

Revenue growth remains steady

- URVI MALVANIA & POULOMI CHATTERJEE

EVEN AS REVENUE growth showed a gradual recovery for two of the country's large information technology companies in the October-December quarter, one-off provisions linked to the new Labour Code weighed on profitability, pulling down sequential earnings for both Tata Consultancy Services and HCLTech, resulting in misses against Street estimates.

For TCS, net profit fell 11.74% quarter-on-quarter to ₹10,657 crore, reflecting the sharper impact of exceptional costs.

HCLTech reported a 3.75% sequential decline in profit to ₹4,076 crore.

Both companies fell short of Bloomberg estimate, which had pegged net profit at ₹13,001 crore for TCS and ₹4,704 crore for HCLTech.

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