TCS Q2 Effects 2024 Reside Updates: TCS to submit Q2 income lately, to document 2.2% income expansion on deal ramp up – Trade Information

TCS Q2 Results Today Live Updates: IT major Tata Consultancy Services (TCS) is scheduled to announce its fiscal second quarter earnings on Thursday, however according to reports, the company has canceled its post earnings press conference and interviews, following the demise of Ratan Tata yesterday. The company has not communicated anything in this regard either on its website or stock exchanges. The leadership team was scheduled to address the media in a press conference at 5:30 pm. As originally scheduled, TCS will inform the exchanges about its July-September performance.

Ratan Tata, the chairman of Tata Sons and recipient of India’s second highest civilian honour, Padma Vibhushan, passed away on Wednesday at Mumbai’s Breach Candy Hospital. Ratan Tata, 86, was in a critical condition and was under intensive care.

TCS, which will report its quarter earnings today, is estimated to post muted growth in Q2 led by ramp-up of key deals. The IT major is expected to record revenue growth of 2.2 per cent, and its profit is estimated to grow by 3.5 per cent sequentially. Meanwhile, a report by Motilal Oswal Financial Services said, “Margins for the sector are likely to be largely range-bound in Q2 as wage hikes have been deferred to H2FY25. We expect margin declines for TCS (continued large deal ramp-up), which should be partly offset by the absence of visa costs and cost optimization benefits. Most companies, however, have deferred wage hikes to Q3 and beyond, which means H2FY25 margins would see headwinds from wage hikes as well as furloughs.” The company is also said to consider an interim dividend. 

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