Tata Consultancy Services profit grows

India's biggest IT outsourcing firm, Tata Consultancy Services (TCS), has reported a 38% rise in first-quarter net profit, helped by a weak rupee and a jump in outsourcing orders.

                                 
                               Tata Consultancy Services' boss N Chandrasekaran

                               said the company had seen strong growth


TCS made a net profit of 32.8bn rupees ($587m; £380m) in the three months to June, up from 23.8bn rupees a year ago, and ahead of analysts' expectations.

Revenue jumped 37.7% to 148.7bn rupees.

The results contrasted with fellow software exporter Infosys, who earlier reported weaker-than-expected earnings.

Infosys also cut its sales forecast.

TCS and Infosys lead India's IT outsourcing industry, which provides services for western firms such as answering calls in call centres, processing insurance claims and software development.

A weak rupee helps Indian exporters as it makes their goods and services cheaper for foreign buyers and also boosts profits when foreign earnings are repatriated back home.

"We saw strong growth across all industries driven by robust volumes from key markets like North America, Europe and Latin America," said TCS chief executive N Chandrasekaran.

"Looking ahead, we continue to see good demand from global corporates as they navigate an increasingly complex environment."

TCS is part of the Tata Group conglomerate.