TCS Q2 net falls 2% to Rs 6,446 crore, but beats estimates

TCS had reported profits of Rs 6,586 crore on revenues of Rs 29,284 crore in FY17 Q2

Tata Consultancy Services (TCS) on Thursday said its second-quarter profits dropped 2.16 per cent year-on-year to Rs 6,446 crore, while revenue grew 4.3 per cent to Rs 30,541 crore. The revenue performance was in line with Street expectations, and was helped by improved business from clients, but profits were ahead of analysts’ estimates aided by better margins and other income. A poll of analysts by Bloomberg had pegged the net profit at Rs 6,287 crore.

The Tata group company’s business volume increased, as it won 47 clients, including an engagement with British insurer Lloyd’s, to provide policy administration for over