TCS reported revenue of USD7.5b in 1QFY25, up 1.9% QoQ in USD terms,beating our estimate of ~1.3%. Growth was driven by strong performancesin India (up 14.1% QoQ/59.0% YoY, aided by BSNL scale-up), the UK (up 2.5%QoQ) and North America (up 0.9% QoQ).