TCS shares fall nearly 2% after Q3 results - Hindustan Times
close_game
close_game

TCS shares fall nearly 2% after Q3 results

Press Trust of India, New Delhi | ByPress Trust of India
Jan 12, 2018 01:28 PM IST

Software exporter TCS on Thursday said its net profit slipped 3.6% to Rs 6,531 crore in Q3.

Shares of TCS fell by nearly 2% on Friday after the company said its net profit slipped 3.6% in three months to December.

Tata Consultancy Services CEO Rajesh Gopinathan attends a news conference announcing the company's quarterly results in Mumbai, India, January 11, 2018.(REUTERS)
Tata Consultancy Services CEO Rajesh Gopinathan attends a news conference announcing the company's quarterly results in Mumbai, India, January 11, 2018.(REUTERS)

Despite opening on a positive note, the stock failed to hold on the momentum and lost 1.59% to Rs 2,744 as the trade progressed on BSE.

Hindustan Times - your fastest source for breaking news! Read now.

At NSE, shares of the company dipped 1.79% to Rs 2,740.55.

India’s largest software exporter TCS on Thursday said its net profit slipped 3.6% to Rs 6,531 crore in three months to December due to margin compression and softness in the banking and financial services sector, which is its largest revenue segment.

The Tata Group company had reported a net profit of Rs 6,778 crore in the December 2016 quarter under the Ind-AS accounting. In July-September 2017, its net profit stood at Rs 6,446 crore.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Tuesday, March 19, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On