Tata Consultancy Services (TCS), India’s largest technology firm by revenue, on Tuesday reported a 2.5 per cent sequential drop in net profit at Rs 6,608 crore for the quarter ended March 31, 2017. The numbers fell a tad short of a Rs 6,642.60 crore profit forecast that analysts had made in an ET Now poll. The IT major had reported a net profit of Rs 6,780 crore for the December quarter.
In a filing to BSE, the company said net sales de-grew 0.3 per cent QoQ to Rs 29,642 crore, which was lower than Rs 29,945.40 crore estimate that analysts had made in the ET Now survey.
In dollar terms, revenue for the quarter stood at $4,452 million, up 1.5 per cent QoQ over $4,387 million in the December quarter. Dollar revenue came in at Rs 29,642 cr crore, down 0.3 per cent over Rs 29,735 crore sales the company reported in the December quarter.