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TCS Q1 results: Net profit rises 4.7% to ₹13,420 crore, AI revenue tops $2.6 billion

TCS Q1 results: Net profit rises 4.7% to ₹13,420 crore, AI revenue tops $2.6 billion

TCS reported an annualised AI revenue run-rate of $2.6 billion, secured $9.5 billion in order bookings, including a marquee AI deal with SKF, and declared an interim dividend of ₹12 per share. | Photo Credit: Dado Ruvic/Reuters Tata Consultancy Services (TCS) net profit grew 4.7 per cent to ₹13,420 crore for the first quarter of the financial year 2026-27, led by positive annual growth across most verticals and AI-transformation-focused deals. Net profit declined 2.6 per cent on a sequential basis, owing to exceptional costs like the settlement of a legal claim. Excluding exceptional items, profit came in at ₹13,849 crore with an annual growth of 8.5 per cent. “Q1 FY27 reflects continued growth momentum and the strength of our strategic positioning, despite geopolitical and macro-economic headwinds. We delivered a strong order book of $9.5 billion, including a marquee AI-led transformation deal with SKF, while continuing to add clients across key revenue bands and scaling our AI business to a $2.6 billion annualized revenue run rate. As customers accelerate investments in AI, modernization, cybersecurity, sovereign cloud and platform simplification, our strong deal conversion, improving client mining and expanding ecosystem partnerships position TCS well to translate opportunity into sustained growth,” said K Krithivasan, Chief Executive Officer and Managing Director. Revenue grew 14 per cent to ₹72,275 crore annually, and 2.2 per cent on a quarterly basis, led by growth across most segments. Annualised AI revenue run-rate stood at $2.6 billion, a sequential increase of 13.6 per cent. The Board of Directors also declared an interim dividend of ₹12 per Equity Share of ₹1 each of TCS. Total contract value (TCV) fell by 20 per cent to 9.5 billion, winning three mega-deals in Q1. Operating margin declined to 24 per cent. “Q1 was characterised by strong growth across several services. We won multiple AI-led transformation deals with our dual commitment to AI-led optimisation as well as innovation-led outcomes. These wins validate our approach to AI-led efficient ITOps, accelerated Software Engineering and Modernisation, AI-first process redesign and implementation of SaaS solutions and Autonomous GBS. We signed strategic partnerships with Anthropic and Mistral expanding our AI ecosystem,” Aarthi Subramanian, Executive Director - President and Chief Operating Officer. Overall TCS results performed marginally better than expectations, as per Sandeep Shah, Director Equity Research at Equirus Securities. The workforce grew by 9,729 employees to 593,798, a sequential growth rate of 1.58 per cent, after muted additions in the last financial year. The sequential growth is also the highest addition in the last 15 quarters, said Shah.The company reported a ‘Voluntary’ LTM attrition of 13.6 per cent. “This quarter, we completed annual salary increments for all associates globally and aligned salary structures with the new India Labour Code requirements. We continue to invest in AI infrastructure, next-generation skill development platforms, to enable our people to be futureready, while fostering a workplace where every associate feels safe, valued, trusted and empowered to grow,” said Sudeep Kunnumal, Chief HR Officer. In Q1, regional markets fell by 0.6 per cent on-year and grew 1.2 per cent sequentially. The Indian market reported 22.9 per cent annual growth and 7.6 per cent sequential growth. Latin America dropped 2.1 per cent annually, and grew 0.6 per cent sequentially. Meanwhile, the UK market fell 0.6 per cent annually and grew 0.3 per cent sequentially. West Asia and Africa grew 7.6 per cent annually but declined 1.8 per cent sequentially. All verticals, aside from the consumer business, showed positive annual growth. Regional markets led the growth, including energy, resources, utilities, and life sciences, on an annual basis. However, on a sequential basis, the energy, life sciences, and manufacturing verticals declined by 0.5-4 per cent.

Adani to file affidavit this week in US court

Adani to file affidavit this week in US court

Billionaire Gautam Adani will file this week a sworn affidavit in a US federal court stating whether he is aware of any promise, agreement or benefit linked to the US government’s decision to dismiss a criminal indictment against him. US District Judge Nicholas Garaufis directed Adani to file the affidavit by July 15 before ruling on the Justice Department’s motion to dismiss the indictment with prejudice. The judge asked Adani to state whether he is aware of any promise, offer, agreement or benefit connected to the dismissal, or of any exchange made in return for the charges being dropped. The Adani group did not offer any comment on the issue, saying the matter is sub judice. The order of June followed a filing by Principal Associate Deputy Attorney General in the Department of Justice, R Trent McCotter, who said he was the “final and sole decision-maker” behind the dismissal and denied media reports that the decision was linked to Adani Group’s plans to invest about USD 10 billion in the United States. “The current or former Department attorneys... have suggested that I sought dismissal of the securities charges at least in part because of some promise by those defendants to invest money in the United States. That is false,” McCotter wrote. “I would have sought dismissal of the securities charges regardless of any mentions of investments,” he added. “The mention of potential investments could not have played any role.” McCotter said he decided to seek dismissal because the securities fraud case was legally “indefensible”, arguing that most of the alleged conduct occurred in India, Indian authorities had investigated the matter and found no actionable misconduct, investors suffered no losses, key evidence and witnesses were outside the United States, and the defendants were unlikely to appear before a US court. He also said the Foreign Corrupt Practices Act charges no longer aligned with the Trump administration’s enforcement priorities, which focus on cases involving US national security, American companies or transnational criminal organisations. “The decision to seek dismissal was not a close call,” McCotter wrote, adding that the FCPA charges “should have been dismissed a year ago”. Garaufis, however, said McCotter’s filing introduced, “for the first time”, the possibility that some form of agreement involving one or more defendants may have existed in connection with the dismissal, even though no such arrangement had been disclosed to the court. The judge noted that Adani’s lawyers had previously explained why the defendants consented to the government’s motion to dismiss but made no reference to any agreement, including one involving a commitment to invest in the United States.

Jeh Aerospace lines up over $50 million investment in capacity addition

Jeh Aerospace lines up over $50 million investment in capacity addition

Jeh Aerospace is betting on India’s growing role in global aerospace supply chains with its Global Manufacturing Centre (GMC) model. The Hyderabad-based precision aerospace manufacturer has secured an order book exceeding $250 million and plans to invest over $50 million in the next three years. businessline spoke to Vishal Sanghavi, Co-founder of Jeh Aerospace on his company’s expansion strategy, investment roadmap and on the industry. Jeh Aerospace has expanded rapidly within a short span. Where does the business stand today? We have grown much faster than we had initially anticipated. Our confirmed order book is now in excess of $250 million, reflecting the long-term nature of aerospace manufacturing contracts. More importantly, we have earned the trust of global customers, which is the most difficult part in this industry. We currently work with about seven customers across the US and Europe, while another five customers are in the pipeline. We manufacture more than 350,000 high-precision aerospace components, and demand continues to remain strong. The real differentiator is not winning orders but consistently delivering quality and on-time performance. We have already invested more than $10 million in the business. Over the next three years, we plan to invest over $50 million, primarily towards expanding manufacturing capacity. Our present facility occupies about 60,000 sq ft, and we have already secured another 200,000 sq ft within the same industrial park at Kothur near Hyderabad for expansion. This will essentially be a brownfield expansion as we prefer leasing industrial infrastructure and investing capital in advanced manufacturing equipment rather than land and buildings. We have built a manufacturing base of 50 high-precision CNC machines within just one-and-a-half years, which is unusually fast for the aerospace industry. We expect this to increase to more than 150 machines over the next 12-18 months. These are advanced CNC machines sourced largely from Germany and Japan and are capable of producing aerospace components requiring sub-10 micron precision. Our products are used in aero engines, landing gear systems and other critical aircraft applications involving hard metals such as titanium and Inconel. Your Global Manufacturing Centre (GMC) model appears different from the conventional joint venture route. What makes it unique? The aerospace industry’s biggest bottleneck today is not at the aircraft manufacturer level but across Tier-1 and Tier-2 suppliers. Nearly 70 per cent of the value addition in an aircraft happens in these layers. Having previously built joint ventures for Boeing, Lockheed Martin and Sikorsky, we realised that while the JV model works, it is also bureaucratic and time-consuming. The GMC model provides global customers the benefits of manufacturing in India without the legal and operational complexities of a traditional joint venture. The manufacturing facilities remain in India, but they function as dedicated manufacturing centres for overseas customers, helping them build resilient supply chains while retaining quality and delivery standards. The opportunity is enormous because the global aerospace industry is facing severe supply-chain constraints. Today, companies such as Airbus and Boeing continue to struggle because their suppliers cannot ramp up production fast enough. India offers three important advantages. First, we have access to skilled engineering talent. Second, we can manufacture globally competitive products. Third, we can deliver significant cost advantages over Western markets. Winning trust through consistent performance remains the biggest challenge. How do you see the aerospace manufacturing industry evolving over the next five years? Two major trends are emerging. The first is the increasing adoption of additive manufacturing, which will continue gaining importance as the technology matures. The second is a structural shift in global supply chains. Earlier, companies outsourced largely for lower costs. Today, resilience has become equally important. Businesses want diversified supply chains instead of depending excessively on one geography. This creates a significant opportunity for India, especially as global companies seek alternatives to China. However, India’s long-term success will depend on consistently delivering world-class quality. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

Life of Sizewell B extended by another 20 years

BBC Business7/9/2026

Life of Sizewell B extended by another 20 years

A nuclear power plant on the East Coast will produce electricity for a further 20 years after a deal was reached between its owner EDF and the government. Sizewell B, near Leiston, Suffolk, started operating in 1995 and was due to reach the end of its life in 2035, but will now continue operating until 2055. Robert Gunn, station director of Sizewell B, said the deal would ensure hundreds of jobs were safeguarded. But Chris Wilson, from the campaign group Together Against Sizewell C (TASC), said future generations would be left dealing with the financial and environmental impact. EDF runs Sizewell B and employs 620 staff and about 300 contractors at the plant. The agreement will enable about £800m of plant investment by EDF, with the agreement due to be finalised later in the year. Sizewell B is the country's only pressurised water reactor and provides energy to more than two million homes, producing 3% of the UK's energy. According to EDF, the extension to its life would generate enough electricity to meet the needs of every home in East Anglia for almost 45 years. "Securing another 20 years also safeguards existing jobs and allows us to continue to recruit another generation of Suffolk young people for the nation's nuclear renaissance," he added. The government has described keeping the plant open until 2055 as "good news", while Lord Patrick Vallance, minister for science, innovation, research and nuclear, said extending the life of a nuclear plant was a " normal thing to do". Wilson said TASC applauded the goal to phase out fossil fuels, but condemned "the government's continued reliance on dirty and dangerous nuclear power". He said this created a "multi-generational financial and environmental liability", leaving our descendants with years of flood defence maintenance and the "insurmountable challenge of safe, millennia-long, highly radioactive nuclear waste isolation, amid a changing climate".

Five Trends That Will Shape the Future of Obesity Care in India: Ajanta Pharma Shares Its Perspective on the Next Decade of Metabolic Health

Five Trends That Will Shape the Future of Obesity Care in India: Ajanta Pharma Shares Its Perspective on the Next Decade of Metabolic Health

MUMBAI, India , July 9, 2026 /PRNewswire/ -- India is approaching a pivotal moment in the evolution of obesity and metabolic health management. As awareness grows among healthcare professionals and patients alike, the obesity care ecosystem is rapidly transitioning from reactive treatment toward proactive and long-term disease management. According to recent estimates, India is home to one of the world's largest populations living with overweight and obesity. This growing burden is contributing substantially to the rising prevalence of type 2 diabetes, cardiovascular disease, fatty liver disease, and other metabolic disorders. As healthcare systems increasingly recognize obesity as a chronic disease requiring long-term management, the need for comprehensive and evidence-based obesity care has never been greater. Ajanta Pharma today outlined five emerging trends that are expected to shape the future of obesity care in India over the coming years. Experts increasingly recognize that the future of obesity management extends beyond weight reduction alone. Effective obesity care is expected to play a critical role in comprehensive cardiometabolic risk management, including diabetes prevention, cardiovascular health, improvement in obesity-related complications, and long-term enhancement of overall metabolic well-being. Ajanta Pharma believes these trends highlight the need for comprehensive care models that combine medical innovation with education and patient engagement. To support this evolving landscape, the company is investing in initiatives focused on patient awareness, healthcare professional engagement, and digital support solutions designed to improve treatment adherence and long-term outcomes. As part of this commitment, Ajanta Pharma has expanded its obesity management portfolio with Ozanta ® , a semaglutide-based therapy, while simultaneously exploring patient support programs, expert-led education initiatives, and digital engagement platforms. "The future of obesity management will be defined not only by scientific advancements but by how effectively we support patients throughout their journey. Building awareness, improving access to information, and strengthening patient engagement will be critical to long-term success," said Mr. Pourus Vakil, President - India Business, Ajanta Pharma. As obesity continues to emerge as one of India's most pressing health challenges, Ajanta Pharma remains committed to supporting healthcare professionals and patients through science-led innovation and responsible healthcare initiatives. Ajanta Pharma is a speciality pharmaceutical formulation company having major focus on branded generic business across India, Asia & Africa. Company has ground presence in each of these 30+ countries. Many of company's products are 1st to market and are leading in their sub-therapeutic segments. Company also has presence in USA in generic business and institution business in Africa. Company's state of the art R&D centre is in Mumbai. Company has 7 world class manufacturing facilities located in India. “This is a company press release that is not part of editorial content. No journalist of The Hindubusinessline was involved in the publication of this release.”

Sony Pictures Networks India FY26 profit rises 15.6% to ₹556 cr, revenue up 9%

Sony Pictures Networks India FY26 profit rises 15.6% to ₹556 cr, revenue up 9%

Sony Pictures Networks India (SPNI), earlier known as Culver Max Entertainment, has reported a 15.6 per cent increase in its consolidated net profit to ₹556.1 crore in 2025-26, according to the RoC filing from the broadcast major. Its revenue from operations was up 9 per cent to ₹6,830.04 crore in FY26. Total consolidated income, which includes other income, was at ₹7,064.08 crore, up 9.36 per cent for the financial year ended on March 31, 2026, as against ₹6,459.43 crore a year ago. The company, which owns 28 channels in entertainment, sports, and infotainment, along with an OTT platform SonyLiv, had reported a net profit of ₹481.21 crore in FY25, and its revenue from operations for that year was at ₹6,261.16 crore. Total expenses of SPNI were also up 7.78 per cent to ₹6,311.47 crore in FY26 -- the first full year of its MD and CEO, Gaurav Banerjee. In FY26, SPNI's advertisement spend was up 24 per cent to ₹1,262.88 crore against ₹1,018.34 crore in FY25. According to industry experts, there is a complete turnaround in the company's performance, driven by advertising income, as it held the broadcast rights for several marquee cricket properties across the Indian subcontinent. SPNI has exclusive TV and digital rights for all Men’s and Women’s Asia Cups through 2031 and aired the Asia Cup 2025. Besides, KBC and Wheel of Fortune also helped SPNI, a company jointly owned by SPE Mauritius Holdings and SPE Mauritius Investments, achieve 9 per cent growth in advertising revenue in FY25, they said. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Wealthy AI workers send San Francisco house prices soaring

BBC Business7/8/2026

Wealthy AI workers send San Francisco house prices soaring

On a tree-lined street in the affluent Duboce Triangle residential neighbourhood of San Francisco, the top half of a white, Edwardian-era, detached house was drawing visitors from prospective buyers. The opulently renovated three-bedroom apartment was on the market for almost $3m (£2.3m). And it had been attracting increased attention due to an unusual payment possibility - the seller would consider shares in artificial intelligence companies OpenAI or Anthropic instead of cash. "The value [of the property] is questionable, but I would like to buy," says a young OpenAI employee who has just viewed the flat with his partner. The worker, who moved to the Californian city two years ago for a technical job with the San Francisco-based company, is currently renting. He plans, he says, to ask his bosses about the stock transfer possibility. Welcome to San Francisco 2026, also home to fellow AI giant Anthropic. The city is ground zero for the AI revolution, and its property prices have risen dramatically this year. "They are just astronomical," says Daryl Fairweather, chief economist at Redfin, a real estate company that tracks US home prices. "People are flush with cash and ready to buy." In March, San Francisco regained its title as the most expensive city for homebuyers in the US, overtaking rival San Jose 50 miles to the south in the heart of traditional Silicon Valley. That month, the median house price in San Francisco rose 19% on the year before, and that trend has continued, up 14.5% and 14.1% in April and May respectively, according to data provided by Redfin. The median sale price in the city as of May 2026 is a record high of $1.76m, compared with nearly $400,000 for the US as a whole, where prices rose by just 1.4% in March, and 2% in both April and May. The prevailing view of pretty much everyone is that AI money is the driver of the red-hot San Francisco property market. "We have come to that conclusion based on what we're seeing in the data, and what we've heard from our agents," says Fairweather. She highlights the steep jump in prices, external in the wider San Francisco Bay Area's luxury zip codes – which includes Duboce Triangle – since OpenAI launched ChatGPT in late 2022, a trend absent in cities with less AI wealth. It has halted the downturn that San Francisco saw during the Covid pandemic, when the population fell and house prices softened.

I run the UK's biggest bank, here are five ways to manage your money

BBC Business7/8/2026

I run the UK's biggest bank, here are five ways to manage your money

Charlie Nunn is CEO of Lloyds Banking Group - the UK's biggest bank providing one in four current accounts - meaning he has a deep insight into customers' spending, saving and borrowing. Here are his top tips on how to manage your money from saving to avoiding scams. This means regular saving will stop being a decision or action you have to keep taking - and putting off. "If you're able to carve out a little bit and put it somewhere else where you won't have access to it and be able to spend it, I think that's the easiest way to start having a saving mindset," he says. That could mean setting up a direct debit from your current account to a savings account, organising cash into different envelopes or using round-up tools that put spare change aside when you spend. He admits he "hates budgeting and always has" so he says he looks at his current account as soon as he gets paid and decides how much he wants to move into savings. "Do it as soon as you can," he adds. As well as savings, he recommends having an emergency fund for surprise bills like a broken boiler or car repairs. How much you need in the fund depends on your circumstances but he advises having one to three months' salary set aside if you can. Nunn and his wife use a joint account and have "complete transparency" over money, he says. His red flag in a relationship is "someone who isn't careful with money" because he has always been "relatively prudent". His attitude to money was shaped by childhood - his parents divorced and his mother raised four children which meant he grew up thinking carefully about spending. "We were constantly worrying about what we were spending money on and managing money carefully which ranged from looking for cheap food in the supermarket to thinking carefully about holidays and what we did in our spare time". Nunn says his children "take no advice from me because I'm their dad" but he's tried to make them understand the value of money.