By Joshua Kirby
Tata Consultancy Services Ltd. said Monday that its second-quarter net profit rose 8.4% from a year earlier amid good growth in demand for its services.
The Indian information-technology services provider said net profit for the quarter ended Sept. 30 rose to 104.31 billion rupees ($1.26 billion) from INR96.24 billion a year earlier. That beat the estimate of INR103.17 billion taken from a poll of analysts compiled by FactSet.
Second-quarter revenue increased 15% at constant currency to INR553.09 billion from INR468.67 billion a year earlier. “Demand for our services continues to be very strong,” said Rajesh Gopinathan, TCS’s chief executive and managing director.
“As clients prepare for a more challenging environment ahead, technologies like cloud that have been embraced now have to be fully leveraged to realize the promised value,” he said.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
October 10, 2022 07:57 ET (11:57 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Read More: Tata Consultancy Services 2Q Net Profit Rose on Higher Demand