TCS Stocks Decline Close to 3% After Q3 Earnings Report
Shares of TCS fell by nearly 3 per cent even after it reported 24.1 per cent growth in net profit for the quarter ended December 2018.
After a weak opening, the scrip further went down by 2.54 per cent to Rs 1,840.10 on the BSE.
At the NSE, shares of the company declined 2.72 per cent to Rs 1,837.15.
The country’s largest software exporter TCS Thursday reported 24.1 per cent growth in net profit at Rs 8,105 crore for the quarter ended December 2018.
The company had posted a net profit of Rs 6,531 crore in the same period last fiscal 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 earlier.
