TCS reports nearly 11% rise in first-quarter profit

Bengaluru: Tata Consultancy Services Ltd, India`s biggest software services company, reported a 10.8% rise in its first-quarter profit on Tuesday, helped by a strong performance in its key banking, financial services and insurance segment.

The Mumbai-headquartered company said its net profit for the quarter ended June 30 rose to 81.31 billion rupees ($1.19 billion) from 73.40 billion rupees a year ago.

Analysts on average had expected the company to report a profit of 78.24 billion rupees, according to Refinitiv data.

TCS posted 11.4% rise in revenue.