India : TCS Q1 net up 10.7 percent, beats estimates
Thu Jul 14 2016
Rajesh Sharma (1816 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)

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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.