 "TCS Q1 net falls 6% to Rs 5,950 crore on rupee appreciation")
Tata Consultancy Services (TCS) , India's biggest software services exporter, posted an almost six per cent fall in first-quarter profit, hurt by volatile currencies.
Consolidated net profit dropped to RS 5,950 crore ($923.20 million) in the three months to June 30, from Rs 6,318 crore, a year earlier, TCS said on Thursday.
Analysts on average expected the company to post consolidated profit of Rs 6,181 crore, according to Thomson Reuters data.
The appreciation of the rupee resulted in a loss of Rs 650 crore in reported revenue, TCS added.
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