The twin poster boys of India’s IT story, Tata Consultancy Services and Infosys, came up with contrasting report cards for the first quarter on Thursday. While TCS delivered a more-than-expected 38 per cent growth in net profit at Rs. 3,281 crore, Infosys barely managed to meet expectations with a 33 per cent rise in its bottom line to Rs. 2,289 crore.
Both benefited from a weak rupee. While TCS sees “business demand in a complex environment,” Infosys warns of volatility in the market and delayed decision-making by clients.
Keywords: first quarter results