India's TCS, Infosys See Revenue Dips On Client Spending Cuts

Infosys, headed by Salil Parekh, and IT rival TCS earn more than 80 percent of their revenues from Western markets (Credit: AFP)

Indian IT giants TCS and Infosys both signalled weak revenue growth in quarterly results Thursday as a client spending slowdown deepened a seasonally weak time for the sector.

Both companies, the second and fifth-biggest in India by market cap respectively, earn more than 80 percent of their revenue from Western markets, and each benefitted from a digital services boom during the Covid pandemic.