India : TCS Q1 net up 10.7 percent, beats estimates
Thu Jul 14 2016
Rajesh Sharma (2002 articles)

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)

Rajesh Sharma

Rajesh Sharma

Rajesh Sharma is Correspondent for Stock Market of South East Asia based in Mumbai. He has been covering Asian markets for more than 5 years.

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