TCS Q1 profit rises nearly 11% to Rs 8,131 cr; revenue at Rs 38,172 cr

Tata Consultancy Services Ltd , India’s biggest software services company, said on Tuesday its first-quarter profit beat estimates, helped by a strong performance from its key banking, financial services and insurance (BFSI) segment.

TCS is the country’s second-most valuable company and its earnings are seen as a marker of the $150 billion IT services sector’s health.

The Mumbai-headquartered company said it earned 11.2% more in revenue from its BFSI clients compared to a year earlier.

That helped boost its net profit for the quarter ended June 30 to Rs 8,131 crore ($1.19 billion) from 7,340 crore a year earlier.