TCS misses both revenue and profit estimates in March quarter
TCS, which was reporting its first quarterly earnings under new chief executive Rajesh Gopinathan, said revenue rose 4.2% year-on-year to Rs29,642 crore Photo: Abhijit Bhatlekar/Mint
Tata Consultancy Services Ltd (TCS) missed analysts’ estimates for both revenue and profit in the fourth fiscal quarter, even as India’s largest software services firm’s full-year sales rose 6.2% to $17.58 billion.
The company reported revenue of $4.45 billion in the three months ended 31 March, a 1.5% increase from the preceding quarter and 5.8% from the year-ago period. Net profit totalled $992 million, a 0.8% decline on a sequential basis and an increase of 5.8% from the year-ago period.
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