Earnings call · Jul–Sep 2026
Tata Consultancy Services Ltd.
TCS Jul–Sep 2026 revenue grew 0.5% sequentially (constant currency) to ₹73,188 crore, with international markets up 1.2%. Operating margin held at 24%; AI revenue annualized at $3.1 billion, crossing 10% of total revenue. Management prioritizes growth investments over margin expansion near-term.
The full notes: the guidance, numbers & KPIs, strategy, outlook, risks, what analysts asked.
Premium opens every call in full: the notes, the marked passages, search & topic jumps, for every company that files a transcript.
From the company
- Nehal ShahHead - Investor Relations at TCS. Thank you and over to you
- Samir Seksaria
- Ravi Menon
- Vibhor Singhal
- Ashwin Mehta
Questions came from
- Sudheer GuntupalliKotak Mahindra Asset Management
- Ravi MenonAxis Capital
- Ruchi MukhijaICICI Securities
- Nitin PadmanabhanInvestec
- Vibhor SinghalNuvama Equities
- Sandeep ShahEquirus Securities
- Gaurav RateriaMorgan Stanley
- Dipesh MehtaEmkay Global
- Rishi JhunjhunwalaIIFL Institutional Equities
- Kumar RakeshBNP Paribas
- Ashwin MehtaAmbit Capital
Topics in this call
Opening remarks
Nehal ShahHead - Investor Relations at TCS. Thank you and over to you
Thank you, operator. Good evening and welcome, everyone. Thank you for joining us today to discuss TCS' financial results for the second quarter of FY 2027 that ended on September 30th, 2026.
This call is being webcast through our website, and an archive including the transcript will be available on the site for the duration of this quarter. The financial statements, quarterly fact sheet, and press releases are also available on our website.
Read the whole call: 213 paragraphs, 12 analysts' questions with every answer, 10 marked passages.
Premium opens every call in full: the notes, the marked passages, search & topic jumps, for every company that files a transcript.
The transcript the company filed on BSE as scanned pages, read into text by AI (Claude): a word may be misread, so check the original PDF for anything important. Our own rules split it into speakers & sections; an unusual layout can trip them, so check the original PDF for anything important. Not a recommendation.