TCS shares jump 4% after company posts 23.4% rise in consolidated net profit in April-June quarter
TCS was the top gainer in the Sensex pack during the morning trade
New Delhi: Shares of Tata Consultancy Services rose 4 percent on Wednesday after the company posted better-than-expected earnings.
The stock after making a positive opening further jumped 3.78 percent to Rs 1,948 -- its 52-week high -- on BSE.
It was the top gainer in the Sensex pack during the morning trade.
At NSE, shares of the company gained 3.98 percent to Rs 1,949.90.
"TCS first quarter results were better-than-expected on all fronts against our/street estimates," Emkay Global Financial Services said in a report.
Country's largest software exporter on Tuesday posted 23.4 percent rise in consolidated net profit to Rs 7,340 crore for the first quarter ended 30 June, 2018.
The company had reported a net profit of Rs 5,945 crore in the same period previous fiscal, TCS said in a regulatory filing.
The Tata Group company -- which accounts for a lion's share of the group's overall profit -- saw its income from operations grow 15.8 percent to Rs 34,261 crore during the quarter, up from Rs 29,584 crore a year ago.
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