Stocks

TCS gains on upbeat Q2 profit

PTI Mumbai | Updated on January 16, 2018 Published on October 14, 2016

tcs

Shares of Tata Consultancy Services today rose over 2 per cent after the company reported a 8.4 per cent rise in net profit for July-September quarter and expressed optimism that rest of the year would be better than the past many years and first half of this year.

Although, the stock opened on a flat note, it later saw some buying and gained 2.4 per cent to Rs 2,384.40.

On the NSE, shares of the company went up by 2.36 per cent to Rs 2,384.

The country’s largest software services firm had posted a net profit of about Rs 6,073 crore in the year-ago period.

Consolidated revenue grew nearly 8 per cent to Rs 29,284 crore for the second quarter against Rs 27,165 crore in July-September 2015.

Describing the second quarter as an extremely “unusual” one for the company, TCS managing director and chief executive N Chandrasekaran said, “I expect the Q3 and Q4 to be better than the similar quarters in the past many years and also the first two quarters as we expect most of the delayed project orders in Q2 to become materialised in the second half.''

Published on October 14, 2016
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