India's largest software exporter, Tata Consultancy Services (TCS) has earned profit of Rs 53.58 billion, representing a rise 48.2% while revenues went up 31.2% to Rs 215.51 billion for the fourth quarter of financial year 2013-14.

Analysts, on average, expected TCS to report a profit of Rs 51.96 billion on revenue of Rs 216.80 billion.

On quarter on quarter basis, it posted a rise of 0.5% in the net profit and 1.2% rise in the revenues.

Shares of the company declined Rs 56.55, or 2.51%, to settle at Rs 2,195. The total volume of shares traded was 148,382 at the BSE (Wednesday).