Tata Consultancy Services beat market estimates in the second quarter. Net profit rose 14.9 per cent to Rs 13,884 crore. Revenue reached Rs 73,188 crore. The company declared a second interim dividend of Rs 12 per share.

Its annualised AI revenue run-rate rose 19 per cent to $3.1 billion. AI now accounts for about 10 per cent of total revenue, analysts said.

Growth was soft in some areas. International revenue grew 1.2 per cent quarter-on-quarter in constant currency. But it was the weakest September-quarter revenue growth in three years.

EBIT margins stayed flat at 24 per cent. Analysts said investments in partnerships and talent weighed on margins.

TCS said the US green-card suspension would not hurt its workforce strategy. The company will focus on local hiring and campus recruitment.

Most brokerages kept a cautious view. They cited weak deal wins and tepid demand for IT services.

Brokerages gave mixed calls on the stock. Goldman Sachs kept a Buy with a target of Rs 2,210. Citi cut its target to Rs 1,840 with a Sell. Nomura stayed Buy at Rs 2,630. Jefferies stayed Underperform at Rs 1,800. Most flagged weak deal wins and margin pressure.