MUMBAI: There was a rise in the share prices of TCS of more than 4% on Friday after the company registered a 21 percent rise in its quarterly profit and stated that it was seeing strong demand.

The net profit has risen better than it was expected to 24% (Rs 1,906 crore for the April-June quarter) and N Chandrasekaran, CEO and MD of India’s largest software exporter, said the volume growth of 8.1% is the best the company attained from September 2008.

“The current demand outlook is very good but the macro-economic condition is dynamic, especially in Europe,” he observed.

The company is always the 1^st to declare earnings which this time reflected the pressure that software companies were facing due to tumbling euro and rising wages, though TCS seems to have coped a little better.

On Tuesday, Infosys had reported a 2.4% decline in net profit to Rs 1,488 crore but had raised the revenue forecast that it made in April.

TCS grew its first-quarter sales by 14% to Rs 8,217 crore. The company never makes revenue or earnings forecasts. On Thursday, before the results by TCS were announced, the company’s stock closed 1.22% higher at Rs 784.10 on BSE. Share prices of Infosys rose by 0.61% and Wipro also gained 1% which is due to declare its results.