Shares of TCS on Friday rose by over 2 per cent even as the company’s net profit fell in the September quarter. The IT bellwether’s scrip gained 2.23 per cent to Rs 2,605.60 on BSE. At NSE, shares of the company went up 2.38 per cent to Rs 2,608.95. India’s largest software exporter TCS on Thursday reported 2.1 per cent dip in net profit to Rs 6,446 crore for the September quarter on softness in banking and retail segments, but gave better guidance based on client optimism.
The Tata group company posted a net profit of Rs 6,586 crore in the year-ago period. Its revenue grew 4.3 per cent year-on-year and 3.2 per cent over the preceding June quarter to Rs 30,541 crore under the Ind AS accounting norms.
The company, which is the crown jewel of the USD 104 billion salt-to-software Tata Group, declared a dividend of Rs 7 per share and set October 26 as the record date.