TCS Q1 profit up 5%, AI revenue hits $2.6B

Tata Consultancy Services reported a 5% year-on-year profit increase to $1.4 billion for the June quarter, with revenue up 13.9% to $7.58 billion. Annualized AI-related revenue reached $2.6 billion, up from $2.3 billion. The company added 9,300 employees, its strongest quarterly hiring in over three years, and reported a total contract value of $9.5 billion in new deals.