Mumbai, July 13: Tata Consultancy Services today reported a near 6 per cent drop in first-quarter net profit at Rs 5,950 crore against Rs 6,513 crore recorded a year ago. Analysts had expected the country's largest software exporter to log a net profit of around Rs 6,200 crore. One of the key factors that contributed to the muted performance of the company during the quarter was the appreciation of the rupee. TCS posted revenues of Rs 29,584 crore against Rs 29,305 crore in the same period of last year. Speaking to reporters here today, Rajesh Gopinathan, CEO & managing director of TCS, said the company delivered a steady performance despite a challenging operating environment.

Source: The Telegraph July 13, 2017 19:34 UTC