Tata Consultancy Services (TCS), India’s largest information technology services provider, entered the financial year 2016-17 with a strong growth. The first quarter numbers beat Bloomberg estimates on both topline and profit numbers.
Net profit for the quarter at Rs 6,318 crore was up 10.6 per cent from Rs 5,708 crore in the corresponding quarter last financial year. This was the second time when TCS surpassed Street estimate on profitability, after missing it for six quarters. Sequentially, profits were down marginally by 0.4 per cent.