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TCS misses first-quarter estimates

Reuters 

(Reuters) - Tata Consultancy Services (TCS), India's biggest software services exporter, missed first-quarter profit estimates on Thursday as a stronger rupee hit revenue.Consolidated net profit fell to 59.50 billion rupees ($923.20 million) for the three months to June 30 from 63.18 billion a year earlier, TCS said. That was short of the 61.81 billion expected by analysts, Thomson Reuters data showed.Chief Financial Officer V Ramakrishnan said in a statement that the rupee's appreciation against the dollar had meant a loss of 6.50 billion rupees ($100.87 million) in reported revenue.The ...

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First Published: Thu, July 13 2017. 17:20 IST
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