Tata Consultancy Q4 profit up 4.2%, misses estimates
TCS says consolidated net profit rose to Rs 6,608 crore in the three months to March 31, from Rs 6,340 crore in the year-ago period.business Updated: Apr 19, 2017 10:57 IST
Tata Consultancy Services Ltd, India’s top software services exporter, reported a 4.2% rise in quarterly net profit on Tuesday but missed analysts’ estimates.
TCS said its consolidated net profit rose to 66.08 billion rupees ($1.02 billion) in the three months to March 31, from 63.40 billion rupees in the year-ago period.
Analysts had, on average, expected a consolidated profit of 66.62 billion rupees, according to Thomson Reuters data.
TCS, which was reporting its first quarterly earnings under new Chief Executive Rajesh Gopinathan, said revenue rose 4.2% year-on-year to 296.42 billion rupees.