Tata Consultancy Services (TCS) is poised to announce its third-quarter results for Fiscal Year 2026 (Q3 FY26) today, January 11, 2026, with analysts forecasting a steady yet subdued performance. Brokerages generally anticipate a year-on-year revenue growth of approximately 5-6%, with estimates for Q3 revenue ranging between ₹67,000-67,500 crore. Regarding profitability, the Profit After Tax (PAT) is projected to increase by around 6% year-on-year, with some estimates placing it between ₹13,000-13,200 crore. For instance, YES Securities estimates a PAT of ₹13,090 crore. Sequentially, Bloomberg estimates cited by NDTV Profit suggest an 8% rise in net profit for the quarter. The outlook on operating margins presents a nuanced picture. While the original article and some brokerages indicate potential 'margin pressure' due to factors like wage hikes and investments, other analyses suggest a possible sequential improvement. NDTV Profit's preview, based on Bloomberg estimates, even points to an EBIT margin expansion from 23.45% to 25.02% sequentially. Jefferies, another brokerage, expects margins to increase by 50 basis points, supported by headcount reduction and rupee depreciation, despite wage hikes and furloughs. This indicates that while headwinds exist, operational efficiencies and other factors might help offset some of the pressure. Key areas of focus for investors and analysts include management commentary on client spending trends, the trajectory of new deal wins, the performance and outlook for TCS's AI business, particularly generative AI adoption, and the ramp-up of projects like BSNL. The company's ability to maintain deal momentum and navigate a cautious global IT spending environment will be closely watched.