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- Published on July 10, 2025
- In IT Services
TCS Sees 3% Revenue Drop Despite AI Gains, Signals Bleak Q1 for Indian IT
No specific AI-led deal wins were disclosed, nor was there evidence that GenAI services have offset the broader demand slowdown.
- By Mohit Pandey
TCS opened the new fiscal year with disappointing numbers and familiar challenges, and little to no confidence in generative AI.
Revenue for Q1 FY26 came in at ₹63,437 crore, up just 1.3% YoY, but down 3.1% in constant currency, making it another poor quarter for the company.
In terms of QoQ, the revenue largely stayed flat compared to Q4 FY25, where the growth stood at just 0.8% QoQ and 5.3% YoY in dollar terms.
Even as revenue slowed, TCS managed to protect its margins.
Net income rose 6% YoY to ₹12,760 crore. Operating margin also ticked up slightly to 24.5% from 24.2% in Q4, helped by a strong focus on cost discipline and efficiency.
The challenges remain the same as last quarter. K Krithivasan, CEO and MD, said in the press release, “The continued glob
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Mohit Pandey
Mohit writes about AI in simple, explainable, and often funny words. He's especially passionate about chatting with those building AI for Bharat, with the occasional detour into AGI.
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