Top headlines: TCS beats street estimates, ED fines Amnesty India, and more

TCS beats street estimates with 16.2% Q1 revenue growth; margins disappoint

Tata Consultancy Services (TCS) Q1FY23 results beat street estimates on topline and continued to keep pace with the growth momentum it delivered in FY22.

TCS' net profit grew 5.2 per cent year on year, and 2.5 per cent sequentially to Rs 9,478 crore in Q1FY23, but missed estimate of Rs 9,850 crore, according to Bloomberg data. Revenue for the quarter came in at Rs 52,758 crore, up 16.2 per cent YoY and 4.28 per cent sequentially. Read more here

ED slaps Rs 51 cr penalty on Amnesty India,