India, Jan. 12 -- Tata Consultancy Services (TCS) has kicked off the Q3 earnings season today. The company has reported a 13.91% decline in consolidated net profit compared to the same quarter last year. On a sequential (QoQ) basis, profit also saw a slide of approximately 11.7%.

The October-December quarter is traditionally weaker for thr IT sector due to fewer working days and year-end holidays in key market like US and Europe.

Cautious client spending also adds into it as while long-term digital transformation remains a priority, analysts noted continued caution in discretionary technology spending amid global macroeconomic uncertainties.

TCS has also significantly ramped up its internal investments, doubling its intake of fresh gra...