India's Tata Consultancy Services Posts Decline in Profit

By Newley PurnellFeaturesDow Jones Newswires

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.

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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)