Tata Consultancy Services Ltd

TCS: XNSE (IND)

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Tata Earnings: Slower Start to Fiscal 2027 as Soft Bookings Trend Compresses Margin Expansion

Luke Yang

Jul 9, 2026

Tata Consultancy Services' first-quarter constant-currency revenue growth of 3% was in line with our expectations. Adjusted operating margin of 24% was the lowest level in nearly three years, suffering from a 170-basis-point negative impact from annual salary increments for the global workforce.

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Tata Consultancy Services Ltd

Tata Earnings: Slower Start to Fiscal 2027 as Soft Bookings Trend Compresses Margin Expansion

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