Indian software behemoth Tata Consultancy Services Ltd (TCS) reported a lower first-quarter profit on Thursday, missing estimates, as the Covid-19 pandemic forced its clients to cut spending on IT services.

TCS said net profit for the three months ended June 30 fell 13.8 per cent year-on-year to ₹7,008 crore ($934.94 million). Analysts' on average had expected a profit of ₹7,705 crore , according to Refinitiv data.

Revenue rose marginally to ₹38,322 crore from ₹38,172 crore a year ago.

TCS, the country's largest IT exporter, is the first among its peers to report earnings in what is expected to be one of the worst quarters for the sector due to the pandemic.