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Tata Consultancy Services fiscal Q1 profit climbs 31.8% YOY

Tata Consultancy Services Ltd. said its normalized net income for the fiscal first quarter ended June 30 was 21.12 Indian rupees per share, compared with the S&P Capital IQ consensus estimate of 24.60 rupees per share.

EPS increased 31.8% year over year from 16.03 rupees.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 41.38 billion rupees, a gain of 31.8% from 31.40 billion rupees in the prior-year period.

The normalized profit margin climbed to 18.8% from 17.5% in the year-earlier period.

Total revenue rose 22.9% year over year to 221.11 billion rupees from 179.87 billion rupees, and total operating expenses grew 23.1% year over year to 161.71 billion rupees from 131.36 billion rupees.

Reported net income rose 45.0% on an annual basis to 55.68 billion rupees, or 28.42 rupees per share, from 38.40 billion rupees, or 19.60 rupees per share.

As of July 17, US$1 was equivalent to 60.16 Indian rupees.