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TCS declines after weak Q4 results

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was down 1.55% to Rs 2,272.85 at 9:16 on after consolidated net profit fell 2.5% to Rs 6608 crore on 0.3% decline in to Rs 29642 crore in Q4 March 2017 over Q3 December 2016.

The result was announced after market hours yesterday, 18 April 2017.

Meanwhile, the S&P Sensex was down 10.98 points or 0.04% at 29,308.12.

On the BSE, 23,000 shares were traded on the counter so far as against the average daily volumes of 99,226 shares in the past one quarter. The stock had hit a high of Rs 2,285 and a low of Rs 2,255 so far during the day.

The stock had hit a 52-week high of Rs 2,740 on 16 August 2016 and a 52-week low of Rs 2054.70 on 15 November 2016. It had underperformed the market over the past one month till 18 April 2017, sliding 8.64% compared with the Sensex's 1.11% fall. The scrip had also underperformed the market over the past one quarter, advancing 0.59% as against the Sensex's 7.56% rise.

The large-cap company has equity capital of Rs 197.04 crore. Face value per share is Rs 1.

Commenting on the company's performance in FY 2017, Rajesh Gopinathan, CEO and MD, TCS, said, FY17 was a year of broad-based growth amidst economic and political turbulence in the company's key markets. The company has added $1.4 billion dollars in constant currency revenues during the year and increased its digital revenues sharply as it helped its customers leverage the digital economy, he said.

Gopinathan added that on the back of digital adoption, Agile, Automation and Cloud are the themes that the company is going to market to drive efficiencies and predictable outcomes across its clients infrastructure, applications and business operations.

V. Ramakrishnan, Chief Financial Officer, TCS, said, despite headwinds from currencies, the company has ended FY 2017 with an industry-leading financial performance while generating strong cash flows. It continues to invest to support organic growth of its digital business, build new market segments and drive profitability in its targeted range, he said.

TCS' consolidated net profit rose 8.6% to Rs 26289 crore on 8.6% growth in to Rs 117966 crore in FY 2017 over FY 2016.

TCS' board approved final dividend of Rs 27.50 per share for the year ended 31 March 2017 (FY 2017).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, April 19 2017. 09:17 IST