TCS net up 27 percent in Q1

Mumbai, July 17 (IANS) Indian IT bellwether Tata Consulting Services (TCS) posted a net profit of Rs.5,058 crore for the first quarter (April-June) of fiscal 2014-15, registering 27 percent year-on-year (YoY) growth.

In a regulatory filing to the Bombay Stock Exchange (BSE) Thursday, the global software major said its consolidated income for the quarter under review (Q1) rose 23 percent YoY to Rs.22,111 crore under the Indian accounting standard.

Under the International Financial Reporting Standard (IFRS), net income is up 21 percent YoY to $845 million and gross revenue to $3.69 billion, an increase of 17 percent YoY.