Tata Consultancy Services (TCS) reports Q1 net profit up 8.7% to 120.40bn rupees, driven by stronger earnings from financial services.

Tata Consultancy Services (TCS), India's largest IT services provider, reported a rise in first-quarter net profit by 8.7% to 120.40 billion rupees ($1.44 billion) for the three months ended June, driven by stronger earnings from the financial services industry. Profit from its banking, financial services and insurance segment increased 10% to INR60.11 billion, beating analysts' estimates. TCS also announced an interim dividend of INR10 a share.

July 11, 2024
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