Shares of TCS Friday fell by 2.45 per cent on lower-than-expected margins for the third quarter. The stock went down by 2.45 per cent to end at Rs 1,841.95 on the BSE. During the day, it slipped 2.75 per cent to Rs 1,836.10.
At the National Stock Exchange (NSE), shares of the company declined 2.38 per cent to close at Rs 1,843.45 apiece. “TCS delivered a mixed bag for 3QFY19, with inline revenues, but tepid EBIT margin. Higher other income helped PAT, which was in line with estimates,” Centrum Broking said in a note.
In terms of equity volume, 5.31 lakh shares of the company were traded on the BSE and over 92 lakh shares changed hands at the NSE during the day. The country’s largest software exporter TCS Thursday reported a 24.1 per cent growth in net profit at Rs 8,105 crore for the quarter ended December.
The company had posted a net profit of Rs 6,531 crore in the corresponding period of the previous financial year as per Indian accounting norms.
The Tata group firm, which accounts for the lion’s share of the group’s overall profit, reported a revenue growth of 20.8 per cent at Rs 37,338 crore for the said quarter, up from Rs 30,904 crore a year ago.