TCS Shares To Be In Focus Today, After June Quarter Profit Misses Street Estimate

Tata Consultancy Services (TCS) Q1 Results: The IT major's board declared an interim dividend of Rs 5 per share.

TCS Shares To Be In Focus Today, After June Quarter Profit Misses Street Estimate

TCS Results: The IT major reported a revenue of Rs 38,322 crore

Tata Consultancy Services (TCS) shares will be in focus on Friday, a day after the country's largest IT services company reported a net profit of Rs 7,008 crore in the June quarter, missing analysts' estimates. The company had reported a profit of Rs 8,049 crore in the quarter ended March 31. Ahead of the earnings announcement on Thursday, TCS shares had closed down 0.60 per cent at Rs 2,204.35 apiece on the BSE, underperforming the benchmark S&P BSE Sensex index which rose 1.12 per cent to a four-month high. 

Analysts had on an average expected the company to report a profit of Rs 7,705 crore, news agency Reuters reported citing Refinitiv data.

In a filing to stock exchanges after market hours on Thursday, Mumbai-based TCS reported a 4 per cent sequential (quarter-on-quarter) decline in revenue from operations to Rs 38,322 crore.

In constant currency terms, Tata Consultancy Services' revenue declined 6.3 per cent on a year-on-year basis, TCS said in a press release.

The company said its operating margin came in at 23.6 per cent, whereas its net margin stood at 18.3 per cent.

The IT major's board declared an interim dividend of Rs 5 per share.