BENGALURU (Reuters) – Tata Consultancy Services Ltd, India’s top IT exporter, on Monday reported a lower-than-expected profit for the third quarter, as clients tightened spending in the face of a challenging macro-economic environment.
Consolidated net profit for the three months ended Dec. 31 rose to 108.46 billion Indian rupees ($1.32 billion) from 97.69 billion rupees a year earlier, the company said in an exchange filing.
Analysts on an average expected a profit of 110.46 billion rupees, according to Refinitiv data.
($1 = 82.3120 Indian rupees)
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Dhanya Ann Thoppil)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibilty for its content.