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TCS First-quarter Profit Rises 24%, Beats Estimates

The company posted a net profit of Rs 73.40 billion ($1.07 billion) in the quarter ended June 30, compared with Rs 59.45 billion a year earlier

Photo Credit : Reuters

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India's biggest software services exporter, Tata Consultancy Services Ltd, posted a better-than-expected rise of about 24 percent in first-quarter net profit, helped by strong growth in its banking, financial services and insurance division.

The Mumbai-headquartered company posted a net profit of Rs 73.40 billion ($1.07 billion) in the quarter ended June 30, compared with Rs 59.45 billion a year earlier, the company said in a statement on Tuesday.

Analysts, on average, had expected a consolidated net profit of 69.83 billion rupees, according to Thomson Reuters data.

(Reuters)


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