India's TCS reports marginal Q2 profit beat, approves $2 bln share buyback

BENGALURU, Oct 11 (Reuters) - Indias No.1 IT services exporter Tata Consultancy Services Ltd (TCS.NS) reported a second-quarter profit on Wednesday that just about beat estimates, helped by large order wins.

The company also approved share buyback worth 170 billion Indian rupees ($2.04 billion).

Net profit rose 8.7% to 113.42 billion Indian rupees ($1.36 billion) in the three months ended Sept. 30 from 104.31 billion rupees a year earlier.

Analysts, on average, had expected a profit of 113.17 billion rupees, according to LSEG data.

TCS said its order book for the July-September period stood at $11.2 billion - higher than the $8.1 billion worth of deals it signed a year ago.

The company is the first among its peers to report quarterly results, setting the tone for an industry worth $245 billion that is staring at an uncertain demand environment in the U.S. and Europe, its key markets.

($1 = 83.1600 Indian rupees)