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TCS Q1 net falls 6% to Rs 5,950 crore on rupee appreciation

Analysts on average expected the company to post consolidated profit of Rs 6,181 crore

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Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai

Reuters

Last Updated : Jul 13 2017 | 5:01 PM IST

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.