TCS starts FY19 with better than expected numbers, net profit rises 23.5%

Revenues up 15.8% at Rs 342.61 bn

Beating Street estimates, the country’s largest information technology (IT) services provider, Tata Consultancy Services (TCS), on Tuesday kick-started the first quarter (Q1) earnings with broad-based growth, while showing a double-digit rise in dollar revenue for the second quarter (Q2) in a row as the management exuded strong confidence of continuing with the momentum for the rest of the year. The growth of the firm was supported by strong traction in  the key BFSI (banking, financial services and insurance) vertical, which accounts for almost 40 per cent of the Tata Group company, coupled with bouncing back of the North American business.