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TCS Shares Jump 4% After Q1 Earnings

The stock after making a positive opening further jumped 3.78 percent to Rs 1,948 — its 52-week high — on BSE.

The stock after making a positive opening further jumped 3.78 percent to Rs 1,948 — its 52-week high — on BSE.
New Delhi: Shares of Tata Consultancy Services rose 4 percent on Wednesday after the company posted better-than-expected earnings.

The stock after making a positive opening further jumped 3.78 percent to Rs 1,948 — its 52-week high — on BSE.

It was the top gainer in the Sensex pack during the morning trade.

At NSE, shares of the company gained 3.98 percent to Rs 1,949.90.
“TCS first quarter results were better-than-expected on all fronts against our/street estimates,” Emkay Global Financial Services said in a report.

Country’s largest software exporter yesterday posted 23.4 percent rise in consolidated net profit to Rs 7,340 crore for the first quarter ended June 30, 2018.

The company had reported a net profit of Rs 5,945 crore in the same period previous fiscal, TCS said in a regulatory filing.

The Tata Group company — which accounts for a lion’s share of the group’s overall profit — saw its income from operations grow 15.8 per cent to Rs 34,261 crore during the quarter, up from Rs 29,584 crore a year ago.

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| Edited by: Puja Menon

Source: News18

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