MUMBAI: Tata Consultancy Services (TCS), India's largest software services exporter, posted a 23-percent rise in quarterly net profit, beating street forecasts, on rising demand for outsourcing services from western clients.
TCS, a unit of the salt-to-steel conglermerate Tata Group, said that fiscal fourth-quarter net profit rose to 24.02 billion rupees ($542 million).
This compares with a Reuters poll forecast for net profit of 23.51 billion rupees for TCS, whose major clients include Citigroup, General Electric, British Airways and Sony Corp.
Shares in TCS, valued at about $54 billion, have risen more than 4.6 percent this year, outpacing a 9-percent fall in the sector index and a near 5 percent drop in the broader market.
http://timesofindia.indiatimes.com
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