July 10, 2018 / 11:52 AM / 5 months ago

India's TCS Q1 profit rises 24 pct, beats estimates

July 10 (Reuters) - India’s biggest software services exporter, Tata Consultancy Services Ltd, posted a better-than-expected rise of about 24 percent in first-quarter net profit, helped by strong growth in its banking, financial services and insurance division.

The Mumbai-headquartered company posted a net profit of 73.40 billion rupees ($1.07 billion) in the quarter ended June 30, compared with 59.45 billion rupees a year earlier, the company said in a statement here on Tuesday.

Analysts, on average, had expected a consolidated net profit of 69.83 billion rupees, according to Thomson Reuters data.

$1 = 68.8250 Indian rupees Reporting by Krishna V Kurup in Bengaluru; Editing by Stephen Coates and Adrian Croft

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