Tata Consultancy First Quarter Net Up 21%

Category Autos | Thursday, July 15th, 2010

Tata Consultancy Services Ltd (TCS.BO), India’s top software services exporter, posted a 21% rise in quarterly profit, beating estimates, helped by a surge in outsourcing demand from overseas clients.

The firm, part of the Tata Group that spans commodities, autos and services businesses, said on Thursday net profit in the June quarter rose to 18.4 billion rupees ($395 million) under U.S. accounting standards.

A Reuters poll had forecast a net profit of 17.6 billion rupees for the firm which counts Citigroup (C.N), General Electric (GE.N), General Motors, Lloyds TSB (LLOY.L), Ferrari and American International Group (AIG.N) among its clients.

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