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TCS Profit Beats Estimates After IT Deal Flow Slowly Picks Up
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Asia TCS Profit Beats Estimates After IT Deal Flow Slowly Picks Up Tata Consultancy Services Ltd. reported quarterly profit that topped analysts’ estimates, helped by cost-cutting measures and a gradually improving contract flow that helped drive growth at Asia’s largest IT services provider. Net income rose 15% to 138.84 billion rupees ($1.4 billion) in the three months through September, the company said in a statement Thursday. Analysts expected 137.86 billion rupees on average.
Asia
TCS Profit Beats Estimates After IT Deal Flow Slowly Picks Up
Tata Consultancy Services Ltd. reported quarterly profit that topped analysts’ estimates, helped by cost-cutting measures and a gradually improving contract flow that helped drive growth at Asia’s largest IT services provider.
Net income rose 15% to 138.84 billion rupees ($1.4 billion) in the three months through September, the company said in a statement Thursday. Analysts expected 137.86 billion rupees on average. Sales climbed 11% to 731.88 billion rupees, helped by a decline in the Indian rupee versus the dollar and the euro.