India’s Tata Consultancy Services posts record quarterly profit


(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

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