Page 67 of Assembly elections 2023

The Q1 FY27 earnings season highlighted a widening gap between India’s two largest IT companies. TCS entered the year with stronger execution, a 24% operating margin, robust AI-led deal wins and continued shareholder payouts, while Infosys lowered its FY27 revenue growth guidance due to softer demand, pricing pressure and AI-driven productivity gains, despite maintaining its margin outlook.