BENGALURU (Reuters) -Tata Consultancy Services, India’s top IT services company, reported a bigger-than-expected second-quarter revenue on Thursday on realisations from large deals signed in the previous quarters.
The company’s consolidated revenue rose 7.7% year-on-year to 642.59 billion rupees ($7.66 billion) in the September quarter.
Analysts, on average, expected revenue of 640.93 billion rupees, as per LSEG data.
Revenue is the key metric that analysts and market participants look at in the Indian IT segment as most companies provide annual revenue growth forecasts.
The Tata Group company’s net profit rose 5% to 119.09 billion rupees in the three-month period, below the 125.02 billion rupees expected by analysts, as per LSEG data.
The company’s total order bookings stood at $8.6 billion during the quarter, compared to $8.3 billion in the previous quarter and $11.2 billion in the year-ago period.
TCS is the first Indian tech major to report results this earnings season. Rival HCLTech reports its numbers on Monday.
Shares listed in Mumbai closed 0.6% lower ahead of the results.
($1 = 83.9420 Indian rupees)
(Reporting by Sai Ishwarbharath B; Editing by Janane Venkatraman)
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