TCS Q1 net profit up 17% at Rs 3,831 cr, higher orders boost

Bangalore: Tata Consultancy Services, the country’s largest software services exporter, said its June quarter net profit rose 16.8 percent, beating estimates, as an increase in orders and foreign exchange gains boosted earnings.

The software firm’s consolidated net profit for the quarter ended 30 June rose to Rs 3,831 crore from Rs 3,280 crore a year earlier. That compares with the Rs 3,780 crore average of 24 analyst estimates, according to Thomson Reuters.

TCS, whose customers include Citigroup, BP PLC, and AstraZeneca PLC, announced its results after the Bombay Stock Exchange closed. Its shares were down about 1 percent compared with a 1 percent gain in the overall index.

Reuters