[Mumbai] India’s IT Tycoon TCS Shares Dropped 5%
Shares of Tata Consultancy Services (TCS) fell by 5.22 per cent to Rs 2,892.45 following reports that its promoter Tata Sons is planning to raise around Rs 8,200 crore by selling stake in the IT major.
The benchmark BSE Sensex gave up its early gains to close lower by 61.16 points at 33,856.78 today mainly due to profit booking in the last hour of the trade after recent gains.
The broader NSE Nifty managed to end higher for the second day at 10,426.85, up by 5.45 points or 0.05 per cent after shuttling between 10,478.60 and 10,377.85, intra-day.
Shares of Tata Consultancy Services (TCS) fell by 5.22 per cent to Rs 2,892.45 following reports that its promoter Tata Sons is planning to raise around Rs 8,200 crore by selling stake in the IT major.
Sustained selling by domestic institutional investors (DIIs) put pressure on select counters led by IT and teck stocks.
Despite, better-than-estimated consumer price inflation eased traders fears of near-term interest rate hikes by the Reserve Bank of India (RBI).
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Ratan Tata
Tag: Tata Consultancy Services
India’s IT Tycoon “TCS” Shares Dropped 5%
Tata’s Consultancy Services Down By 3.6% So Share Falls @ Rs 18.70
[Mumbai] Tata’s Consultancy Services[ TCS ] Down By 3.6% So Share Falls @ Rs 18.70
Share Price Of
BSE Category 2788.40-18.70
NSE-2790.50-16.10
Country’s largest IT firm Tata Consultancy Services (TCS) today said its net profit fell 3.6 per cent to Rs 6,531 crore in the December 2017 quarter.
The Mumbai-headquartered company had posted a net profit of Rs 6,778 crore in the October-December quarter of the previous fiscal, the company said in a BSE filing.
Its income from operations during the quarter under review stood at Rs 30,904 crore, up 3.9 per cent from Rs 29,735 crore in the year-ago period, as per Indian Accounting Standard (Ind-AS).
The company has declared a dividend of Rs 7 per share.
TCS CEO and MD Rajesh Gopinathan said.
“We wrapped 2017 with a strong performance in the December quarter… . As lagging parts of our portfolio turn around, and areas of softness reduce, we are well placed for stronger growth ahead,”
He added that the company signed its first over USD 50 million deal in ‘Digital’ this quarter.
TCS COO and Executive Director N Ganapathy Subramaniam said.,New deal ramp-ups, increasing traction in Digital, robust demand pick up in Retail and continuing momentum in most of TCS’ industry verticals gave the company strong volume growth in a seasonally weak quarter,
TCS’ digital revenue saw an increase of about 40 per cent year-on-year and accounted for 22.1 per cent of the company’s revenues.
During the quarter, TCS saw its IT attrition rate (LTM) coming down 0.2 per cent sequentially to 11.1 per cent. It added 12,534 employees (gross) in the December 2017 quarter, taking its total headcount to 3,90,880 people.
File Photo
India’s Largest Software Firm TCS Net Profit Jumps16% to Rs 6,085 cr
[New Delhi]India’s Largest Software Firm Tata Consultancy Services[TCS] Net Profit Jumps16% to Rs 6,085 cr
Services also announced a dividend of Rs 5.50 per share. Its operating margin for the quarter stood at 27.1 per cent
Country’s largest software services firm TCS has reported a 16 per cent surge in net profit to Rs 6,084.66 crore for the quarter ended September 30.
The Mumbai-based firm had reported a profit of Rs 5,244.28 crore in the corresponding period last fiscal, it said in a regulatory filing.
The company’s total income from operations for the quarter rose 14.06 per cent to Rs 27,165.48 crore as against Rs 23,816.48 crore last year. The figures are in Indian GAAP.
However, according to the company statement, as per IFRS, the net profit for Q2 stood at Rs 6,055.20 crore whereas revenues was Rs 27,165.50 crore.
TCS CEO and MD N Chandrasekaran said: “We have delivered accelerated growth in constant currency terms for Q2. Driven by great execution on the ground, our broad-based performance has been led by strong sequential growth in BFS, retail and life sciences verticals with the UK and North America leading the markets.”
The company said core markets like the UK, North America and Europe grew smartly along with emerging markets like Latin America, India and MEA.
TCS also announced a dividend of Rs 5.50 per share. Its operating margin for the quarter stood at 27.1 per cent.
The company said there was a total gross addition of 25,186 people (net addition of 10,685 employees) taking the total employee strength of 3,35,620 on consolidated basis.
The utilisation rate (excluding trainees) was at 86 per cent while the attrition rate stood at 16.2 per cent.
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