India's TCS shares gain in pre-open trading on revenue outlook

MUMBAI Wed Apr 17, 2013 11:56pm EDT

Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai, June 29, 2012. REUTERS/Vivek Prakash

Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai, June 29, 2012.

Credit: Reuters/Vivek Prakash

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MUMBAI (Reuters) - Shares in India's Tata Consultancy Services Ltd (TCS) (TCS.NS) rose 2.15 percent in pre-open trade on Thursday after it painted a more bullish picture for future revenue growth than key rival Infosys (INFY.NS).

TCS said on Wednesday net profit for the fiscal fourth quarter ended March 31 rose 22 percent to 35.97 billion rupees ($663.35 million) from the year-earlier period.

TCS added it expects revenue in the current fiscal year to increase more than the 12-14 percent sector export growth forecast by the National Association of Software and Services Companies (Nasscom).

Infosys shares were up 0.1 percent.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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