India’s Tata Consultancy Services posts record quarterly profit

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(Reuters) – Tata Consultancy Services <TCS.NS>, India’s biggest software services exporter, posted a 24.1 percent rise in third quarter net profit on Thursday, helped by strong gains from its Banking, Financial Services And Insurance segment.

The Mumbai-based company posted a record net profit of 81.05 billion rupees ($1.15 billion) in the third quarter ended December 31, versus 65.31 billion rupees it reported a year earlier.

That narrowly missed an average estimate of 82.19 billion from 25 analysts, Refinitiv data shows.

Income from operations rose 20.8 percent, it said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/48235fb5-622d-4ae1-9c77-d7e75b3ee1b2.pdf.

(Reporting By Arnab Paul in Bengaluru; Editing by Himani Sarkar/Keith Weir)