<div>Tata Consultancy Services on Thursday (09 July) posted better than expected quarterly net profit and said it would increase investments in digital services to meet faster adoption by clients.</div><div> </div><div>India's information technology firms have in recent months moved towards higher value services and are focusing on digital technologies to cater to customers increasingly seeking expertise in areas like automation and artificial intelligence.</div><div> </div><div>"Given the strong pipeline and market adoption of digital across industries, we are investing to train over 100,000 professionals this year in all relevant technologies, CEO N. Chandrasekaran said in a statement.</div><div> </div><div>The digital segment contributed about 12.5 per cent to the company's consolidated annual revenue, he added.</div><div> </div><div>TCS, the biggest company by market value in India's $146 billion IT outsourcing industry, said net profit rose 13 per cent to Rs 5,709 crore ($900 million) for its fiscal first quarter to June 30, higher than analysts estimates of Rs 5,440 crore.</div><div> </div><div>TCS, part of India's diversified Tata Group, said the current situation in Greece and China did not pose any immediate concerns for the company. TCS makes close to a fifth of its revenue from Europe.</div><div> </div><div>Revenue rose 16.1 per cent from a year earlier to Rs 25,668 crore. Sequentially, the company's revenue rose 6 per cent, slightly above analyst expectations of 5.3 per cent.</div><div> </div><div>The Mumbai-based company attributed growth in the quarter to strong demand from North America and greater traction for TCS's digital solutions in areas like financial services, retail and life sciences.</div><div> </div><div>Typically, Indian IT services companies see better revenue growth during the first two fiscal quarters, when client spending tends to rise as compared to the second half of the fiscal year.</div><div> </div><div>Shares of the company closed down 2.8 per cent before the results on Thursday, while the broader Mumbai market was down 0.41 per cent. </div><div> </div><div>(Reuters)</div>
