India : TCS Q1 net up 10.7 percent, beats estimates

MUMBAI  : Tata Consultancy Services Ltd (TCS.NS), India’s top software services exporter, reported a 10.7 percent increase in quarterly profit on Thursday, beating estimates as it won more outsourcing deals from western clients.

Net profit rose to 63.17 billion rupees ($ 944 million) for its fiscal first quarter to June 30 under the IFRS accounting standards, TCS said on its official Twitter feed.

Analysts on average had expected a net profit of 60.88 billion rupees, according to data compiled by Thomson Reuters.

($ 1 = 66.9200 rupees)

(Reporting by Abhirup Roy and Devidutta Tripathy; Editing by Biju Dwarakanath)