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Tata Consultancy Earnings Trail Estimates After Labor Crunch Boosts Costs

Tata Consultancy Services Ltd. reported fourth-quarter profit that trailed analysts’ estimates, hurt by rising costs to hire and retain workers during a pandemic-driven technology boom.

Net income rose 7.4% to 99.3 billion rupees ($1.3 billion) in the quarter through March, the Mumbai-based company said in a statement on Monday. Analysts, on average, had estimated a profit of 100.55 billion rupees.