TCS net profit falls 5.9% to Rs59.45b

Mumbai

India’s largest software services firm Tata Consultancy Services (TCS) on Thursday reported a 5.9 per cent decline in its consolidated net profit to Rs59.45 billion (Dh3.39 billion) for the April-June quarter, hit by currency volatility.

It had posted a net profit of Rs63.17 billion in the corresponding three-month period of the 2016-17 fiscal, the Mumbai-based firm said in a BSE filing. The company, however, posted a marginal increase of 1 per cent in its consolidated revenue at Rs295.84 billion during the quarter as against Rs293.05 billion in the year-ago period. When compared to the January-March 2017 quarter, its net profit during the period under review fell 10 per cent, while revenue slipped 0.2 per cent.