Tata Consultancy Net Beats Estimates as Orders, Rupee Lift Sales
This article is for subscribers only.
Tata Consultancy Services Ltd., Asia’s largest software-services provider, reported profit that beat analysts’ estimates as businesses sought savings through outsourcing and the rupee’s decline boosted overseas earnings.
Net income rose 23 percent to 28.9 billion rupees ($570 million) in the quarter ended Dec. 31 from 23.5 billion rupees a year earlier, Mumbai-based Tata Consultancy said in a statement yesterday. Analysts predicted 28.3 billion rupees, the median of 35 estimates compiled by Bloomberg.