TCS · Information Technology
Depreciation fell while the business grew. Were asset lives changed?
Depreciation ₹1,262 cr, −10.7% on the year.
Source: Quarterly statements
Operating margin slipped on the year.
EBITDA margin 25.7%, −161 bps on the year (+3 bps on the quarter).
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹60,583 cr | ₹61,237 cr | ₹62,613 cr | ₹64,259 cr | ₹63,973 cr | ₹64,479 cr | ₹63,437 cr | ₹65,799 cr | ₹67,087 cr | ₹70,698 cr | ₹72,275 cr | ₹73,188 cr |
| YoY | — | — | — | +8% | +6% | +5% | +1% | +2% | +5% | +10% | +14% | +11% |
| EBITDA margin | 27.1% | 28.0% | 26.6% | 26.0% | 26.6% | 26.3% | 26.6% | 27.3% | 27.2% | 27.3% | 25.7% | 25.7% |
| Other income, % of PBT | −1% | 7% | 6% | 5% | 7% | 6% | 10% | −2% | −16% | 4% | 5% | 7% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 26% | 25% | 25% | 25% | 25% | 24% | 24% | 24% | 25% | 25% | 25% |
| Net profit | ₹11,097 cr | ₹12,502 cr | ₹12,105 cr | ₹11,955 cr | ₹12,444 cr | ₹12,293 cr | ₹12,819 cr | ₹12,131 cr | ₹10,720 cr | ₹13,784 cr | ₹13,420 cr | ₹13,934 cr |
| YoY | — | — | — | +5% | +12% | −2% | +6% | +1% | −14% | +12% | +5% | +15% |
| Core profit YoY | — | — | — | +7% | +3% | −2% | +0% | +7% | +6% | +15% | +11% | +6% |
| EPS | ₹30.56 | ₹34.37 | ₹33.28 | ₹32.92 | ₹34.22 | ₹33.79 | ₹35.27 | ₹33.37 | ₹29.45 | ₹37.92 | ₹36.90 | ₹38.37 |
| Flags | · | · | · | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Tata Consultancy Services Ltd. reported revenue of ₹73,188 cr (+11.2% on the year) and net profit of ₹13,934 cr (+14.9% on the year) for July to September 2026.
Profit before other income, exceptional items and tax moved +5.9% on the year, against +14.9% for reported profit.
1 check raised a question: Depreciation fell while the business grew. Were asset lives changed?
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