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Bloomberg Quint

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TCS Q1 Impact: Wipro, Infosys ADR Decline

  • Wipro and Infosys American depositary receipts (ADRs) declined after Tata Consultancy Services Ltd. (TCS) reported its first-quarter results.
  • Wipro's ADR fell over 6% to 2.8880, while Infosys ADR dropped nearly 4% to 18.07.
  • TCS experienced a 1.6% decline in revenue to Rs 63,437 crore in the first quarter, missing the analyst consensus estimate.
  • TCS reported a 4% rise in consolidated net profit, with an increase in headcount and an IT services attrition rate of 13.8% over the past twelve months, the highest in nearly two years.

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