Tata Consultancy Services (TCS) on Thursday announced that its press conference for Q2FY2025, scheduled originally to be held at 5:30 pm, is cancelled. In a regulatory filing, the company said, “We hereby inform you that the press conference for Q2FY2025 scheduled to be held at 5:30 PM (IST) on Thursday, October 10, 2024, stands cancelled. The other events would be held as per schedule. The revised schedule of events is attached herewith.”
The cancellation of the press conference and interviews comes due to the demise of Ratan Tata, the chairman of Tata Sons and recipient of India’s second highest civilian honour, Padma Vibhushan. Ratan Tata, 86, passed away on Wednesday at Mumbai’s Breach Candy Hospital. He was in a critical condition and was under intensive care.
Meanwhile, TCS posted its fiscal second quarter earnings with profit at Rs 11,909 crore, recording a growth of 5.0 per cent in comparison to Rs 11,342 crore during the corresponding quarter of previous financial year. It posted revenue from operations at Rs 64,259 crore, up 7.7 per cent as against Rs 59,692 crore during the second quarter of FY24.
For the previous quarter, the IT major had recorded a profit growth of 8.7 per cent YoY at Rs 12,040 crore despite degrowth in several businesses. Revenue for the quarter was reported at Rs 62,613 crore, up 5.4 per cent and 4.4% YoY in constant currency. Net margin for the quarter ending June 30, 2024 was at 19.2 per cent.
Meanwhile, industry leaders from across the country paid their tributes to Ratan Tata.
Reliance Industries Chairman Mukesh Ambani said, “It is a very sad day for India and India Inc. Ratan Tata’s passing away is a big loss, not just to the Tata Group, but to every Indian. At a personal level, the passing of Ratan Tata has filled me with immense grief as I lost a dear friend. Each of my numerous interactions with him left me inspired and energised and enhanced my respect for the nobility of his character and the fine human values he embodied. Ratan Tata was a visionary industrialist and a philanthropist, who always strove for society’s greater good.” He added, “On behalf of Reliance, Nita and the Ambani family, I send my heartfelt condolences to the bereaved members of the Tata family and the entire Tata Group. Ratan, you will always remain in my heart.”
Deepak Sood, Secretary General, ASSOCHAM, said, “Mr Tata not only took a well-diversified Tata Group to several countries of the world but also immensely contributed to India’s brand equity on the global landscape across sectors including information technology, automobile , steel and hospitality. His life would be an inspiration for India’s entrepreneurs to think and go global, retaining an unblemished reputation and very high standard of corporate governance.” Conveying condolences to the Tata family, the ASSOCHAM recalled association of Mr Tata with the apex chamber, whose 104 years’ lineage has shared eventful times of the nation – building with that of the Tata Group.
Vishal Kampani, Vice Chairman & Managing Director, JM Financial Limited, said, “With deep sadness, we bid farewell to Ratan Tata, a visionary leader whose immense contributions to the nation and the global business community are beyond comparison. He was not only a towering figure in the corporate world but also a true humanitarian, whose commitment to social responsibility will inspire generations to come. My heartfelt thoughts and prayers are with his loved ones and the entire Tata Group during this time of profound loss. His absence will be deeply felt, but his legacy will remain forever.”
Anand Rathi, Chairman & Founder, Anand Rathi Group, said, “A heartfelt tribute to Shri Ratan Tata for his visionary leadership in not only expanding the Tata group but also for providing support and guidance to many Indian industries and businesses. I had the privilege of meeting him several times in the past alongside Late Shri Aditya Birla. His dedication to innovation, integrity, and social responsibility has transformed numerous enterprises and inspired generations of entrepreneurs to pursue excellence. Under his guidance, the Tata Group has become synonymous with trust and excellence, paving the way for a more sustainable future. Thank you, Shri Tata, for your enduring legacy and profound impact on our nation.”
Baba Kalyani, CMD of Bharat Forge, said, “I am deeply saddened by the demise of Shri Ratan Tata, a visionary doyen of Indian Industry and an extraordinary leader whose contributions have shaped the nation in countless ways. I have known him for over three decades and shared an excellent personal and professional relationship with him. A highly competent and principled individual, Ratan was always available to me as a friend and a mentor to lend his guidance and professional advise. Ratan always held India’s interest paramount and he built a very strong and positive brand for India globally. In the early 2000s, for many of us, he was the guiding light in taking Indian businesses global. One of the most defining moments of Ratan Tata’s leadership was during the tragic 26/11 attacks, where he and his team stood by their employees with immense compassion and care. That level of empathy was a testament to the values he lived by – placing people above all else. Ratan’s absence leaves a void not just in India, but across the global business community. He will be deeply missed, and his contributions will continue to inspire us for generations to come. May his soul rest in peace.”