TCS Weakens On Muted Q3 Numbers

Edited by Peter Noronha

20 Jan 2020, 01:15 PM IST

At 12.45 p.m, the stock was trading at Rs 2175, lower by 42 points or 1.9 per cent, on the BSE.

TCS' shares slippped in afternoon trades as investors turned cautious post its muted earnings in the third quarter. At 12.45 p.m, the stock was trading at Rs 2175, lower by Rs 42 or 1.9 per cent, on the BSE. The stock touched a high of Rs 2,241 and a low of Rs 2,161 thus far. The BSE Sensex had shed 0.8 per cent at 41,602 and the NSE Nifty had lost 0.8 per cent at 12,246.

Post market hours on Friday, the country's largest software services company reported net profit of Rs 8,118 crore in the quarter ended December 2019, marking an increase of 0.9 per cent from profit of Rs 8,042 crore in the previous quarter. TCS' revenue from operations rose 2.25 per cent to Rs 39,854 crore from Rs 38,977 crore in the previous quarter.

TCS board also announced an interim dividend of Rs 5 per equity share.

TCS had closed 0.91 per cent lower at Rs 2,218 on the BSE ahead of its numbers on Friday.