India's TCS surges after April-June earnings beat estimates

Reuters News
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Posted: Jul 18, 2013 11:52 PM
India's TCS surges after April-June earnings beat estimates

MUMBAI (Reuters) - Shares in Tata Consultancy Services Ltd, India's largest software services exporter, surged 3.5 percent in pre-open trading on Friday, a day after posting April-June earnings that beat estimates and maintaining an upbeat outlook.

TCS said consolidated net profit for the quarter ended June 30 rose to 38.31 billion Indian rupees ($642.73 million) from 32.8 billion rupees a year earlier. That topped the 37.8 billion rupees average of 24 analyst estimates, according to Thomson Reuters I/B/E/S.

(Reporting by Abhishek Vishnoi; Editing by Supriya Kurane)