Tata Consultancy Services reported Q2 results with revenue and margins largely in line but total contract value and margins slightly missing estimates

Thu 8 Oct 2026

Q2 revenue

13,884 crore rupees

Revenue estimate

13,788 crore rupees

Constant currency growth

0.5 percent

EBIT margin

24 percent

EBIT margin estimate

24.38 percent

Heard on business television between 15:45:15 - 15:48:15 IST.

• Revenue came in at 13,884 crore rupees versus estimate of 13,788 crore, with constant currency growth of about 0.5% sequentially, at the lower end of the 0.5-0.8% estimated range.
• EBIT margin came in at 24%, about 40 basis points below the 24.38% estimate, with only a 2 bps improvement versus an expected 42 bps rise.
• Total contract value stood at $9.6 billion, slightly below the expected $10 billion run rate and close to the first quarter's $9.5 billion.
• AI revenue on an annualized basis stood at $2.5 billion in the quarter; workforce strength came in at 598,056 with IT services attrition at 13.3%.
• Net profit rose nearly 4.38%, higher than the estimated 3.3% uptick; analyst Sunny Agarwal said numbers were largely in line but flagged margin disappointment, noting a currency tailwind should have helped margins while last quarter's wage hike impact should have reversed, and said he would need to check for one-off items.

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