April 12, 2019 / 11:27 AM / 4 months ago

Tata Consultancy Services posts record fourth-quarter profit

Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai, June 29, 2012. REUTERS/Vivek Prakash/Files

(Reuters) - India’s top IT services exporter, Tata Consultancy Services Ltd, reported a record quarterly profit on Friday, helped by a strong performance in its banking, financial services and insurance segment (BSFI).

Net profit for the January-March quarter came in at 81.26 billion rupees ($1.17 billion) compared to 69.04 billion rupees last year.

Some 33 analysts on average expected a profit of 80.11 billion rupees, Refinitiv Eikon data showed.

The Tata group posted a 18.5 percent rise in revenue during the quarter.

($1 = 69.2240 Indian rupees)

Reporting By Arnab Paul and Chandini Monnappa in Bengaluru; Editing by Stephen Coates and David Evans

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