TCS shares gain nearly 4% after IT major reported 17.7% growth in net profit for March 2019 quarter

  • The scrip after making a positive opening further jumped 3.56 percent to Rs 2,085.60 on the BSE

  • On the volume front, one lakh shares of the company were traded on the BSE

  • Revenue of the firm grew 18.5 percent in the quarter under review to Rs 38,010 crore

New Delhi: Shares of Tata Consultancy Services (TCS) on Monday gained nearly 4 percent after the company reported 17.7 percent growth in consolidated net profit for the March 2019 quarter.

The scrip after making a positive opening further jumped 3.56 percent to Rs 2,085.60 on the BSE.

 TCS shares gain nearly 4% after IT major reported 17.7% growth in net profit for March 2019 quarter

Representational image. Reuters.

At the NSE, shares of the company rose by 3.64 percent to Rs 2,088.

On the volume front, one lakh shares of the company were traded on the BSE and over 28 lakh shares on the NSE, during the morning trade.

"TCS beat street/our estimates on revenues," Emkay Global Financial Services said in a report on Saturday.

TCS on Friday reported 17.7 percent growth in consolidated net profit at Rs 8,126 crore for the March 2019 quarter.

This is against a net profit of Rs 6,904 crore in the year-ago period, TCS said in a regulatory filing.

Revenue of the firm grew 18.5 percent in the quarter under review to Rs 38,010 crore from Rs 32,075 crore in the corresponding period last fiscal, it added.

Updated Date: Apr 15, 2019 11:14:31 IST