TCS kicked off India’s IT earnings season with a solid second quarter. Net profit rose 14.8% to Rs 13,934 crore, while revenue grew 11.2% to Rs 73,188 crore, slightly beating analyst estimates. Here is what the numbers mean. Operating margin stood at 24%, showing the company kept costs under control even as growth stayed modest. Deal wins were strong, with total contract value of $9.6 billion in the quarter. The standout figure is AI. Annualized AI revenue crossed $3.1 billion, more than 10% of total revenue, showing TCS is monetizing its AI push. CEO K Krithivasan pointed to new deals with Porsche and Best Buy. Banking, manufacturing and technology services led growth. Krithivasan said fewer projects were being deferred and expects better growth in the second half. The board also declared a Rs 12 interim dividend. With HCLTech reporting on October 12 and Infosys on October 23, TCS’s results set the tone for a sector dealing with cautious client spending in its biggest market, North America.