Shares of TCS today fell by over 2% after the software exporter reported a marginal dip in net profit in December quarter due to lower margins.
Scrip of the country's largest software exporter fell by 2.39% to Rs 2484.00 at the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), it was down 2.15% to Rs 2,484.30.
Dipen Shah, Head- Private Client Group Research, Kotak Securities, said: "The results have not provided any positive surprise. The in-line results for 3Q reflect the impact of seasonality as well as softness in a few verticals like Insurance and Energy / Utilities."
TCS had, on Thursday, reported a marginal dip in net profit at Rs 5,328 crore in December quarter due to lower margins, a tepid performance compared to rival Infosys that beat market expectations to log 13% jump in profits. TCS' operating margin dipped by 2.88% as compared to last year, to 26.9%, but was up 0.21% over the preceding September quarter.