TCS Q2 profit rises 22.6 percent in line with street estimates

(Reuters) - Tata Consultancy Services Ltd, India's biggest software services exporter, posted a 22.6 percent rise in second-quarter net profit, largely in line with analyst estimates, helped by strong growth in its Banking, Financial services and Insurance and retail segments.

The Mumbai-headquartered company posted a net profit of 79.01 billion rupees ($1.07 billion) in the quarter ended Sept 30, up from 64.46 billion a year earlier, it said in a statement on Thursday.

Analysts, on average, expected a consolidated net profit of 79.02 billion rupees, according to Refinitiv Eikon data.

Income from operations rose 20.7 percent to 368.54 billion rupees.

($1 = 74.0400 Indian rupees)

 

(Reporting by Krishna V Kurup in Bengaluru; editing by Jason Neely)