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TCS Shares Jump 4% After Q1 Earnings

The stock after making a positive opening further jumped 3.78 percent to Rs 1,948 — its 52-week high — on BSE.

PTI

Updated:July 11, 2018, 5:05 PM IST
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TCS Shares Jump 4% After Q1 Earnings
In this file photo, logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai. (Photo: Reuters/Vivek Prakash)
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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 yesterday posted 23.4 percent rise in consolidated net profit to Rs 7,340 crore for the first quarter ended June 30, 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 per cent to Rs 34,261 crore during the quarter, up from Rs 29,584 crore a year ago.

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| Edited by: Puja Menon
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