Tata Consultancy Services Posts Higher Quarterly Net Profit

By Sherry Qin

Tata Consultancy Services reported a rise in fourth-quarter net profit, supported by higher profit from its key banking, financial services and insurance segment.

The Indian information-technology services provider said Friday that net profit rose 9.1% from a year earlier to 124.34 billion rupees ($1.49 billion) for the three months ended March. That beat the estimate of INR120.85 billion in a poll of analysts by data provider Visible Alpha.

Profit from its banking, financial services and insurance segment rose to INR63.05 billion from INR58.69 billion.

Fourth-quarter revenue increased 3.5% to INR612.37 billion.

The company declared a final dividend of INR28 a share.

Write to Sherry Qin at [e-mail]

(END) Dow Jones Newswires

04-12-24 0703ET