India's TCS Q1 profit rises 16.8%, beats view on deal wins

BENGALURU, July 12 (Reuters) - Tata Consultancy Services (TCS.NS), Indias No.1 software services exporter, reported a 16.8% rise in quarterly profit that just beat estimates on Wednesday, helped by large order wins.

Consolidated net profit rose to 110.74 billion rupees ($1.35 billion) in the first quarter that ended on June 30, from 94.78 billion rupees in the year-ago period.

Analysts on average had expected a profit of 109.04 billion rupees, according to Refinitiv IBES data.

TCS is the first among its peers to report quarterly results, setting the tone for a $245 billion industry that is staring at a recession in major markets like the United States and Europe.

Revenue from operations rose 12.6% to 593.81 billion rupees.

TCS said its order book for the April-June period stood at $10.2 billion against $8.2 billion a year ago.

($1 = 82.2658 Indian rupees)

Reporting by Sethuraman NR in Bengaluru; Editing by Savio DSouza and Nivedita Bhattacharjee

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