For long, Infosys has taken pride of being IT bellwether in India by delivering industry’s best operating margins. But, the scenario is changing now. With the latest numbers, the gap between the profit margins of TCS and Infosys seems to have shrunk to a noticeable extent. 

According to a latest update, Tata Consultancy Services confirmed its status as the IT bellwether in India, while Infosys, which is known as IT bellwether for long, became entrenched as the plain number two.

It is reportedly said that TCS muted the alarm bells that rang in the morning when Infosys disappointed with its quarter result and lowered its revenue guidance for 2012-13 to around 5 percent from earlier 8-10 percent.

It is found, TCS defeated Infosys on almost every parameter.

Stats revealed, TCS reported revenue of Rs 14,869 crore and a growth of nearly 12 percent against the average analysts estimate of Rs 14,766.5 crore in previous quarter. As far as net profit is concerned, TCS’s net profit expanded 37.4 per cent to Rs 3,318 crore while that of Infosys grew 32.9 per cent to Rs 2,289 crore. 

Also, management observations on outlook are almost upbeat for TCS, in contrast to Infosys.

According to Partha Iyengar, Vice-President of research at Gartner India, Infosys should not be looked as the bellwether for the industry anymore. It is TCS, and TCS is confident of outperforming (software industry grouping) Nasscom's numbers as well. 

He further added, there are deep, endemic issues with Infosys and we don't get the confidence from its management that things are fine. 

Seems, TCS is taking full advantage of depreciating rupee.