Tata Consultancy Services (TCS) reported results for the quarter ended June 30 which was largely below consensus estimates. Sequentially TCS registered marginal fall in sales at Rs 29584 crore against Rs 29642 crore for the quarter ended June 2017. OPM fell 240 basis points from 27.4% to 25.1% which saw OP fall 9% to Rs 7413 crore. OPM declined around 240 bps qoq, due to wage revision (which impacted it by around 150 bps) and adverse currency movements (INR appreciation against USD). Other income fell 4% to Rs 959 crore and interest cost grew from Rs 8 crore to Rs 27 crore. After providing for depreciation (down 1% to Rs 499 crore), PBT fell 9% to Rs 7846 crore. Provision...