Mumbai: India's largest software services exporter Tata Consultancy Services (TCS) net profit rose higher than expected by 11.87 per cent quarter-on-quarter to Rs 3,280.5 crore for the quarter ended June 2012. Analysts on average had expected net profit at Rs 3,250 crore.
Consolidated revenues increased 12.14 per cent to Rs 14,868.7 crore from Rs 13,259.3 crore, which was also higher than expectations of Rs 14,806 crore.
TCS CEO Natarajan Chandrasekaran said they would continue to see good demand from global corporations. We have seen secular growth across service line and key markets," he said.
Numbers were quite better than its closest peer Infosys, which disappointed the street on Thursday by reporting a quarter-on-quarter decline of 1.16 per cent in its net profit of Rs 2,289 crore for the June quarter. The company also cut its dollar revenues guidance for full year.
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