India's TCS profit rises 44 pct, beats estimates

MUMBAI Fri Oct 19, 2012 8:37am EDT

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MUMBAI Oct 19 (Reuters) - Tata Consultancy Services Ltd (TCS), India's largest software services exporter, posted a 44 p e rcent rise in quarterly profit, be ating expectations, as more overseas clients turned to its outsourcing services to cut costs.

Profit for the three months ended September rose to 35.12 billion rupees ($652 million) from 24.39 billion rupees a year earlier, TCS said. Analysts had forecast a net profit of 33.34 billion ru p ees, according to Thomson Reuters estimates. ($1 = 53.840 rupees) (Reporting by Aradhana Aravindan; Editing by Anand Basu)