Wage hikes-demand slowdown combo weighs on TCS first quarter net profit

TCS reported a 3.16% net profit drop to ₹12,040 crore in June due to wage hikes and macroeconomic uncertainties. Revenue increased to ₹62,613 crore, driven by a ₹15,000 crore BSNL deal. CEO Krithivasan noted geopolitical issues. AI, Cloud, IoT grew; $8.3 billion deal pipeline. Added 5,452 employees; 24.7% margin. GenAI pipeline at $1.5 billion; India business jumped 61.8%.