Cement major Ultratech 's operating performance was in line with estimates, but the company missed bottomline estimates as interest costs were higher while other income was lower than expected. Cement prices, saw some improvement in Q3FY24 but corrected to a large extent by the end of December as demand tapered off. The IT pack has fared reasonably well in a tough environment. The demand outlook is improving, though when discretionary spends by clients will recover meaningfully is still unclear. Revenue growth at TCS, in constant currency terms, was 1% quarter-on-quarter, driven by BSNL's ramp-up. The company's productivity improved and it managed to rein in costs, which helped margins improve by 70 bps sequentially, more than expected. Infosys, on the other hand, reported a revenue decline of 1% in constant currency terms, though this was better than estimates.