India's largest IT services company, Tata Consultancy Services (TCS) on January 11 reported net profit of Rs 11,058 crore in the quarter ended December 31, 2023, up 2 percent from Rs 10,846 crore in the same quarter a year ago. The marginal rise was despite high furloughs BFSI and hi-tech sectors, coupled with continued slowdown in discretionary spending.