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State Bank of India (SBI) had earned a net profit of Rs 14,205 crore in the year-ago period.
On a standalone basis, Federal Bank reported 29 per cent rise in net profit at Rs 854 crore.
However, events like the fall of SVB and fears of a contagion have impacted client sentiments in North America and the banking, financial services and insurance sector in particular, leading to clients deferring spends, the Tata Group company said.
The Bengaluru-based IT firm logged a 20 per cent year-on-year increase in consolidated revenue in the third quarter of the current fiscal at Rs 38,318 crore. It also raised full year revenue guidance to 16-16.5 per cent against the previously projected band of 15-16 per cent.
TCS CEO attributed the strong set of numbers in a seasonally weak quarter to the stellar performance of their cloud services and the continued business momentum in North America and England.
The company had posted a net profit of Rs 190 crore in the July-September quarter of the previous fiscal.
Public sector banks in general, long vilified to be a drain on the national exchequer, have now turned the corner.
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