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Tata Consultancy first-quarter profit beats expectations

Recovery in demand from financial services clients also boosts earnings

MUMBAI (NewsRise) -- Tata Consultancy Services, India's largest software exporter, reported a better-than-expected 24% jump in first-quarter net profit, aided by a recovery in demand from its financial services clients and a string of large outsourcing deals.

The Tata Group flagship said consolidated net profit for the quarter ended in June stood at 73.40 billion rupees ($1.1 billion), compared with 59.45 billion rupees a year earlier. Revenue grew 16% to 342.61 billion rupees.

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