After market hours on Tuesday, TCS reported a net profit of Rs 8,131 crore in the quarter ended June 30, 2019 beating analysts' estimates.

The net profit rose 0.06 per cent on a quarter-on-quarter basis.

The IT major said its revenue increased to Rs. 38,172 crore in the first quarter of the current financial year - an increase of 0.43 per cent over the previous quarter.

Analysts said that the company's Q1 revenue, however, missed their expectations.

"Tata Consultancy Services (TCS) first quarter revenue growth was a miss to our forecast, while EBIT margin and EPS were in-line with our forecast," Urmil Shah, research analyst at IDBI Capita, said in a note.

"We factor first quarter revenue miss and fine-tune our forecast. We now forecast US dollar revenue growth at 10 per cent and earnings per share growth at 9.1 per cent over FY19-21 that is outperforming sector growth. We also fine-tune our target price to Rs 2,195 (versus Rs 2,228 earlier) based on 22 times FY 21 earnings," he added.

TCS said its operating profit margin stood at 24.2 per cent, while net margin was at 21.3 per cent.

The company's digital revenue, which contributes 32.2 per cent to its total revenue, grew 42.1 per cent compared to the corresponding period a year ago.

"We have had a steady start to the new fiscal year. We see customers continuing to spend on their growth and transformation initiatives, and that is showing in our strong order book and deal pipeline this quarter," said TCS CEO and managing director Rajesh Gopinathan said in the company's regulatory filing.