TCS profit rises 4% in Q3

AMONG VERTICALS, ENERGY, resources and utilities grew by 3.4%, and consumer business gained 1.1%.

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The key segment - banking, financial services and insurance (BFSI) - reported a modest sequential growth of 0.9%, compared to 0.1% in Q2.

Chief executive officer K Krithivasan highlighted the robust deal pipeline, stating, "We are pleased with the excellent TCV performance in Q3, which was well-rounded across industries, geographies and service lines. BFSI and consumer business groups returning to growth, alongside early signs of revival in discretionary spend, lend visibility to long-term growth".

He added, "The majority contribution of growth in India and regional markets came (from projects) other than BSNL. We see that the BSNL deal has reached its peak and will start tapering, possibly from Q4."

On the likely impact of the recent H-1B rules overhaul, the management said they have a strong global model in place, which reduces their dependence on H-1B. So, they will treat it as business as usual until there is a further development.