Profit

TCS Shares Jump After Earnings Announcement By IT Company

TCS had on Friday reported a net profit of Rs 8,126 crore for the quarter ended March 31, 2019.

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TCS Shares Jump After Earnings Announcement By IT Company

TCS share price: The stock rose as much as 3.65% to hit an intraday high of Rs 2,088 apiece on the NSE


Tata Consultancy Services (TCS) shares jumped as much as 4 per cent on Monday, after the company beat analysts' estimates of its quarterly profit. On the National Stock Exchange (NSE), TCS share price rose as much as 3.65 per cent to hit an intraday high of Rs 2,088 apiece, compared to its previous close of Rs 2,014.50. The country's largest IT services exporter had on Friday reported a net profit of Rs 8,126 crore for the quarter ended March 31, 2019. 

On the Bombay Stock Exchange (BSE), the TCS stock jumped 3.57 per cent to register an intraday high of Rs 2085.60, compared with its previous close of Rs 2013.75.

In a regulatory filing post-market hours on Friday, TCS reported a revenue of Rs 38,010 crore for the fourth quarter of financial year 2018-19. That marked an increase of 1.8 per cent in revenue compared to the previous month. On a year-on-year basis, the quarterly revenue increased 18.5 per cent, which the company said was its strongest growth in the last fifteen quarters. (Also read: TCS March quarter profit at Rs 8,126 crore, beats analysts' estimate)

The board of the country's largest IT services company approved a final dividend of Rs. 18.00 per equity share, the company said in its regulatory filing. 

At 10:43 am, TCS shares traded 2.67 per cent higher at Rs 2,068.25 apiece on the NSE, outperforming the broader markets which were up 0.26 per cent. (Also read: Sensex rises over 100 points, Nifty crosses 11,650 mark)



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