October 10, 2019 / 11:14 AM / a month ago

India's TCS Sept-qtr profit misses estimates

BENGALURU, Oct 10 (Reuters) - Tata Consultancy Services Ltd (TCS) missed analysts’ estimates for September-quarter profit on Thursday, as India’s No. 1 IT services exporter faced sluggish demand in its key banking services segment amid signs of a global slowdown.

TCS, India’s second-most valuable company, said net profit rose to 80.42 billion Indian rupees ($1.13 billion) in the three months ended Sept. 30, from 79.01 billion rupees a year ago.

Analysts on average had expected a profit of 82.55 billion rupees.

Revenue rose 5.8%. ($1 = 71.08 Indian rupees) (Reporting by Derek Francis in Bengaluru; Editing by Maju Samuel)

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