TCS misses estimates, profit down 1 per cent at Rs 11,909 crore

The country’s largest information technology services firm, Tata Consultancy Services (TCS) on Thursday reported a net profit of Rs 11,909 crore during the July-September quarter, which was down 1.1% on sequential basis. The company missed Bloomberg consensus estimate of Rs 12,547 crore, on the back of higher expenses.

Consolidated revenues during the period was up 2.6% sequentially to Rs 64,259 crore, beating estimates of Rs 64,178 crore.