Tata Consultancy Services Reports Higher Quarterly Profit
DDow Jones
By Kosaku Narioka
Tata Consultancy Services posted a rise in first-quarter net profit, partly due to higher earnings from the financial client segment.
The Indian information-technology services provider said Thursday that net profit climbed 6.0% from a year earlier to 127.60 billion rupees, equivalent to $1.49 billion, for the three months ended June. That beat the estimate of 123.30 billion rupees in a poll of analysts by data provider Visible Alpha.
Revenue for the period increased 1.3% to 634.37 billion rupees.
Profit from its banking, financial services and insurance segment rose 3.4% to 62.16 billion rupees.
Write to Kosaku Narioka at kosaku.narioka@wsj.com