North America and UK market softness
North America revenue was flattish and UK faced ongoing challenges, which could temper growth if discretionary spending remains subdued.
TCS / Q3-FY26 / risks
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TCS · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Material risks this quarter
high
Restructuring costs and headcount reductions
TCS released ~1,800 employees in Q3 and expects restructuring to continue into Q4, impacting margins and morale.
Legal and one-time expenses
Other expenses rose sharply due to legal fees, M&A costs, and CSR; CFO indicated 10-20 bps one-time impact, but ongoing legal costs may persist.
BSNL revenue uncertainty
Revenue from BSNL remains flat until formal PO is received; no clear timeline provided, creating uncertainty.