TCS shares jump 4% after company posts 23.4% rise in consolidated net profit in April-June quarter

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. [caption id=“attachment_4387049” align=“alignleft” width=“380”] Representational image. Reuters.[/caption] 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.