Tata Consultancy Services (TCS), India`s biggest software services exporter, posted an almost six percent fall in first-quarter profit, hurt by volatile currencies.
Consolidated net profit dropped to 59.50 billion rupees ($923.20 million) in the three months to June 30, from 63.18 billion rupees, a year earlier, TCS said on Thursday. (http://bit.ly/2tPsBN5)
Analysts on average expected the company to post consolidated profit of 61.81 billion rupees, according to Thomson Reuters data.
The appreciation of the rupee resulted in a loss of 6.50 billion rupees in reported revenue, TCS added.
($1 = 64.4500 Indian rupees)
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.
