TCS net profit rises 51.5 per cent, beats estimates

0



TCSMumbai: Tata Consultancy Services Ltd, India’s largest IT services exporter, posted a 51.5 per cent rise in quarterly net profit, beating expectations, as it won more contracts in Europe and some emerging markets.

Net profit for the fourth quarter ended March 31 rose to Rs 5,297 crore ($879 million) from Rs 3,497 crore rupees a year earlier, TCS said in a statement on Wednesday. The company is part of the salt-to-software Tata conglomerate.

Shares of TCS closed at Rs 2,196.30 on Wednesday. The results were released after market close.