India's Tata Consultancy Services posts record quarterly profit

Logos of TCS are displayed at the venue of the annual general meeting of the software services provider in Mumbai

Logos of TCS are displayed at the venue of the annual general meeting of the software services provider in Mumbai

FILE PHOTO: Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai, June 29, 2012. REUTERS/Vivek Prakash

(Reuters) – Tata Consultancy Services , India’s biggest software services exporter, posted a 24.1 percent rise in third quarter net profit on Thursday, helped by strong gains from its Banking, Financial Services And Insurance segment.

The Mumbai-based company posted a record net profit of 81.05 billion rupees ($1.15 billion) in the third quarter ended December 31, versus 65.31 billion rupees it reported a year earlier.

That narrowly missed an average estimate of 82.19 billion from 25 analysts, Refinitiv data shows.

Income from operations rose 20.8 percent, it said in a statement https://www.bseindia.com/xml-data/corpfiling/AttachLive/48235fb5-622d-4ae1-9c77-d7e75b3ee1b2.pdf.

(Reporting By Arnab Paul in Bengaluru; Editing by Himani Sarkar/Keith Weir)