TCS Q3 net rises 20.5%, beats forecast

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India's top software services exporter, Tata Consultancy Services Ltd, on Wednesday beat forecasts with a 20.5 percent rise in quarterly profit as it won new outsourcing deals and raised fees for clients.

The company, part of the Tata Group that has interests in cars, commodities and services, said net profit rose to 13.31 billion rupees ($339 million) in the fiscal third quarter ended December. 31, from 11.05 billion a year earlier, under the U.S. accounting standards.

A Reuters poll of 12 brokerages had forecast net profit of 13.12 billion rupees for Tata Consultancy whose leading clients include General Electric and Nielsen Co.

Last week, rival Infosys Technologies Ltd beat expectations with a 25 percent rise in quarterly profit and raised its full-year forecast despite uncertainty over the economic health of its key U.S. market.

Competent English-speaking staff and lower wages have helped India's services firms grab outsourcing jobs. But a strong rupee, rising pay and the shaky U.S. economy are big worries.