Tata Consultancy Services 2Q Net Profit Rose
By Adria Calatayud
Tata Consultancy Services said second-quarter net profit rose, helped by growth in its banking, financial services and insurance segments.
The Indian information-technology-services provider said Wednesday that net profit increased to 113.42 billion Indian rupees ($1.36 billion) for the quarter ended Sept. 30 from INR104.31 billion a year earlier. That compared with an estimate of INR113.50 billion from a poll of analysts by FactSet.
Profit from its banking, financial services and insurance segment climbed 7.4% and was the largest contributor, while profit from its manufacturing segment rose 17%.
Second-quarter revenue increased to INR596.92 billion from INR553.09 billion a year earlier, with growth across all the company's segments.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
October 11, 2023 08:08 ET (12:08 GMT)
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