TCS posts 51% rise in net profit

Tata Consultancy Services Ltd , India's largest IT services exporter, posted a 51.5% rise in quarterly net profit, beating expectations, as it won more contracts in Europe and some emerging markets.

Net profit for the fourth quarter ended March 31 rose to Rs 5,297 crore from Rs 3,497 crore a year earlier, TCS said in a statement on Wednesday. The company is part of the salt-to-software Tata conglomerate.

That compares with the Rs 5,198 crore average of 23 analyst estimates, according to Thomson Reuters I/B/E/S.

Shares of TCS closed at Rs 2,196.30 on Wednesday. The results were released after market close.