TCS Q2 Results Live Updates: IT major to report single-digit growth despite big deal wins, buyback in focus

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TCS Q2 Results Live: Tata Consultancy Services (TCS) will announce its July-September quarter results for fiscal 2023-24 (Q2FY24) today, October 11. D-Street analysts widely expect India's largest software service exporter to report single-digit growth in terms of revenue and profit over global economic triggers that continues to weigh on the information technology (IT) sector.

Market observers keenly await the announcements from the TCS board as it will consider a proposal for share buyback in its meeting today. This will be its fifth share buyback for the IT behemoth in a span of six years.Stay tuned to out TCS Q2 Results Live Blog for the latest updates from the leading IT major:TCS, the largest software service exporter in India, is likely to post single digit revenue and profit growth for the quarter ended September 2023.

The revenue growth for the IT sector likely to be modest dragged by lower discretionary tech spends and delay in execution of deals, analysts said.However, demand stays solid—likely to show up in strong deal flows yet again— which should translate to a strong recovery in H2FY24.TCS board will also consider a proposal for share buyback in its meeting on October 11. This will be its fifth share buyback in six years.“… the Board of Directors will consider a proposal for buyback of equity shares of the Company, at its meeting to be held on October 11, 2023," TCS said in its BSE filing on October 6.Tata Consultancy Services (TCS), the largest software service exporter in India, will report its earnings for the quarter ended September 2023 today, October 11.