Tata Consultancy Services June quarter profit up 16.8 percent

BANGALORE, July 18 Thu Jul 18, 2013 7:50am EDT

BANGALORE, July 18 (Reuters) - Tata Consultancy Services , India's largest software services exporter, said its June quarter net profit rose 16.8 percent, beating estimates, as an increase in orders and foreign exchange gains boosted earnings.

Consolidated net profit for the quarter ended June 30 rose to 38.31 billion rupees ($642 million) from 32.8 billion rupees a year earlier. That compares with the 37.8 billion rupees average of 24 analyst estimates, according to Thomson Reuters I/B/E/S.

TCS, whose customers include Citigroup, BP PLC, and AstraZeneca PLC, announced its results after the Mumbai markets closed. Its shares were down about 1 percent compared with a 1 percent gain in the overall index.

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