Mumbai: On Wednesday, TCS, the largest IT services exporter in the country, posted a net profit of Rs 11,392 crore, up 14.8% over the previous quarter. However, the company warned of concerns in its most important market, North America.
The fall of SVB and worries of a contagion have affected customer mood in North America, the Tata Group company stated, causing clients to delay spending in the banking, financial services, and insurance industry in particular.
Sales increased by 16.9 percent year over year, reaching Rs 59,162 crore.—Inputs fromAgencies