TCS reports 5.1% rise in Q3 net profit

Tata Consultancy Services, country's biggest software services exporter , on Thursday posted a 5.1 rise in quarterly profit as its main US and Europe clients increased tech spending in a seasonally weak quarter.

Net profit for the three months to December 31, its financial third quarter, rose to Rs 5,444 crore ($877 million), the Mumbai-based company disclosed in tweets on its official Twitter handles on Thursday.

Analysts, on average, were expecting profit at Rs 5,471 crore, according to Thomson Reuters I/B/E/S.

The year-end holidays usually mean weaker third-quarter sales for IT services firms, and TCS said in December it expected quarterly profit to be "in line with seasonal trends".

(Reuters)