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TCS drops after declaring Q3 result

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fell 1.29% to Rs 2,752.50 at 11:28 on after the company announced its Q3 result after market hours yesterday, 11 January 2018.

Meanwhile, the Sensex was up 84.44 points or 0.24% at 34,587.93

On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 40,867 shares in the past one quarter. The stock had hit a high of Rs 2,813 and a low of Rs 2,744 so far during the day. The stock had hit a 52-week high of Rs 2,820 on 11 January 2018 and a 52-week low of Rs 2,154.30 on 2 February 2017.

The stock had outperformed the market over the past one month till 11 January 2018, rising 4.98% compared with the Sensex's 3.13% rise. The stock had also outperformed the market over the past one quarter, gaining 11.51% as against the Sensex's 8.39% rise. The scrip, however, undeperformed the market over the past one year, rising 20.03% as against the Sensex's 27.13% rise.

The large-cap company has equity capital of Rs 191.43 crore. Face value per share is Re 1.

TCS' consolidated net profit rose 1.31% to Rs 6545 crore on 1.18% growth in net sales to Rs 30904 crore in Q3 December 2017 over Q2 September 2017.

TCS' operating margin stood at 25.2% in Q3 December 2017, an expansion of 0.1% Q-o-Q. said that most industry verticals grew above company average in Q3 December 2017. The and CPG vertical showed a strong turn around, growing 6.4% Q-o-Q. Growth was led by Energy & Utilities (+8.5% Q-o-Q), Travel & Hospitality (+2.9% Q-o-Q) and Life Sciences & Healthcare (+2.5% Q-o-Q). Growth was led by (+5% Q-o-Q), (+2.6% Q-o-Q) and (+1.5% QoQ), said.

N. Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said that new deal ramp-ups, increasing traction in digital, robust demand pick up in and continuing momentum in most of our industry verticals gave the company strong volume growth in a seasonally weak quarter.

In a separate announcement made before market hours today, 12 January 2018, TCS said that it has entered into an agreement with Transamerica, a leading provider of life insurance, retirement and investment solutions, to enable the transformation of administration of its and annuity business lines. The multi-year agreement is worth more than $2 billion in revenues, and is expected to be completed by the second quarter of 2018, the company said.

TCS is an IT services, consulting and business solutions organization.

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

First Published: Fri, January 12 2018. 11:40 IST