Asia IT Leader TCS Lags Estimates on Weak Tech Spending
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Tata Consultancy Services Ltd.’s quarterly profit missed analysts’ estimates, a sign that clients from banks to retailers remain hesitant to commit to large investments on information technology.
Net income rose 5% to 119.1 billion rupees ($1.4 billion) for the three months through September. Analysts, on average, projected 125.47 billion rupees. Sales rose 7.7% to 642.6 billion rupees.