India's Tata Consultancy Services Posts Decline in Profit

NEW DELHI – Tata Consultancy Services Ltd., India's largest software exporter by revenue, said profit slipped slightly in its latest quarter.

The company said Thursday its profit was 65.31 billion rupees ($1.02 billion) in the three months ended Dec. 31, compared with 67.78 billion rupees a year earlier.

That was marginally higher than the 65 billion rupees consensus estimate of analysts surveyed by Thomson Reuters.

Revenue grew 3.9% to 309.04 billion rupees.

The company expects better performance this year. "We are well placed for stronger growth ahead," Chief Executive Rajesh Gopinathan said in a statement.

Write to Newley Purnell at newley.purnell@wsj.com

(END) Dow Jones Newswires

January 11, 2018 08:11 ET (13:11 GMT)