MUMBAI (Reuters) - Tata Consultancy Services (TCS), India's largest software services exporter, reported a 14.7-percent rise in quarterly net profit, marginally below estimates as uncertainty in the global economy weighed on new outsourcing orders.
TCS, a unit of the salt-to-steel conglomerate Tata Group, said on Monday net profit for the fiscal second quarter that ended September rose to 24.39 billion rupees ($498 million) in accordance with international financial reporting standards.
This compares with a Reuters poll of 24.77 billion rupees in net profit for the company, whose major clients include Citigroup, General Electric, British Airways, Sony Corp and British insurer Aviva.
Shares in TCS, valued at about $45 billion, closed down 1.2 percent at 1,120.25 rupees ahead of the result announcement in a Mumbai market that closed 0.3 percent lower.
Infosys, India's No.2 software services exporter, last week reported a 9.7-percent rise in second-quarter profit, roughly in line with street estimates, easing investor worries of a sharp slowdown in the outsourcing sector.
(Reporting by Prashant Mehra and Sumeet Chatterjee; Editing by Aradhana Aravindan)
