TCS sees currency volatility as near-term challenge

Tata Consultancy Services Ltd , India's top software services exporter, expects currency volatility to remain a challenge in the short term, it said in a statement.

TCS on Thursday beat market expectations with a 38% rise in its fiscal first-quarter profit, helped by a weaker rupee and increase in demand for outsourcing.

TCS posted net profit of Rs 3,280 crore for the quarter ended June, compared with Rs 2,380 crore  a year earlier. Revenue rose 37.7 percent from a year earlier to Rs 14,869 crore