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TCS Shares Up Over 3 Percent on Smart Q2 Earnings Email this page
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New Delhi: Shares of IT major TCS rose by over 3 percent following the company's posting 49 percent jump in net profit for the July-September quarter and gave an optimistic growth outlook . After a bullish opening, the company's stock jumped 3 percent to 1,330 on the BSE.
At NSE, the scrip climbed 3.2 percent to 1,331. The stock was the top performer among the 30-Sensex blue chip scrips in the morning trade, where the BSE benchmark index was trading at 18,696.74, up 14.43 points at 1050 hrs. "TCS reported yet another set of healthy quarterly result, outperforming the street's as well as our expectations on the revenue as well as the profit front," Angel Broking said in a report.

TCS reported 49 percent jump in September quarter net profit at 3,434 crore. The company had posted a net profit of 2,301 crore in the same quarter of the previous fiscal (2011-12). TCS' revenues rose 34.3 percent to 15,621 crore in the reporting quarter compared to 11,633.49 crore in the year-ago period.

Even though its operating margins dipped by 0.38 percent to 26.7 percent as per the Indian GAAP, TCS Chief Executive and Managing Director N Chandrasekaran exuded confidence that it will remain around 27 percent for this fiscal. Without divulging a set target, he had said the revenue will outpace the projections of 11-14 percent given by the industry body-Nasscom in this financial year.

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