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TCS profit falls 5.9% in Q1, marginal rise in revenue

LiveMint logoLiveMint 13-07-2017 Tanvi Mehta

Bengaluru: Tata Consultancy Services Ltd (TCS), India’s biggest software services exporter, posted an almost 6% fall in Q1 profit, hurt by volatile currencies.

Consolidated net profit dropped to Rs5,950 crore ($923.20 million) in the three months to 30 June, from Rs6,318 crore a year earlier, TCS said on Thursday. Revenue, however, improved marginally to Rs29,584 crore, the Press Trust of India reported.

Analysts on average expected the company to post consolidated profit of Rs6,181 crore, according to Thomson Reuters data.

The appreciation of the rupee resulted in a loss of Rs650 crore in reported revenue, TCS added.

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