BENGALURU (Reuters) -India’s Tata Consultancy Services Ltd topped quarterly profit estimates on Friday, boosted by growth in its key banking and financial services segment and a strong demand for digital services during the COVID-19 pandemic. The Mumbai-based company’s consolidated net profit rose 29% to 96.24 billion rupees ($1.28 billion) in the three months to Sept. 30, from 74.75 billion rupees a year earlier. Analysts on average had expected a profit of 96.01 billion rupees, according to Refinitiv data. Consolidated revenue from operations jumped 16.8% to 468.67 billion rupees, with the company’s banking and finance industries-focused unit posting a 14.3% rise compared with a year earlier. TCS said it added five more customers in the $100 million-plus range in the quarter compared with a year earlier, bringing the total to 54.

Source: MetroXpress October 08, 2021 13:30 UTC