Shares of Tata Consultancy Services (TCS) slipped over 1.5 per cent in the morning trade on Friday a day after the IT behemoth reported a 28.5 per cent rise in consolidated net profit for the June quarter at Rs 9,008 crore.
After opening on a positive note with a marginal rise, the stock gave up its initial gains and slipped into the red before paring some of losses.
The TCS stock fell 1.52 per cent to Rs 3207.65 on the BSE while on the National Stock Exchange (NSE), it fell as much as 1.59 per cent to Rs 3,206.80.
At 11:57 am, the scrip IT bellwether was trading at Rs 3,216.85 apiece on the BSE, down Rs 40.25 (1.24 per cent), while on NSE, it was at Rs 3,215.30, down Rs 43.20 (1.33 per cent). So far in intraday trade, over 1.32 lakh shares were traded on the BSE while over 42.14 lakh shares exchanged hands on NSE.
On Thursday, TCS had reported a 28.5 per cent rise in consolidated net profit for the June quarter at Rs 9,008 crore as against Rs 7,008 crore in the year-ago period.
Consolidated revenue rose 18 per cent to Rs 45,411 crore from Rs 38,322 crore in June 2020. The company also announced an interim dividend of Rs 7 per share.