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TCS edges lower on profit booking after posting Q2 results

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dropped 0.49% to Rs 2,536 at 9:20 on on profit booking after the company reported decent Q2

The result was announced after market hours yesterday, 12 October 2017.

Meanwhile, the S&P Sensex was up 157.94 points or 0.49% at 32,340.16.

On the BSE, 19,645 shares were traded on the counter so far as against the average daily volumes of 65,429 shares in the past one quarter. The stock had hit a high of Rs 2,560.55 and a low of Rs 2,525 so far during the day. The stock had hit a 52-week high of Rs 2,707.40 on 6 June 2017 and a 52-week low of Rs 2,054.70 on 15 November 2016.

The stock had gained 4.87% in five sessions to settle at Rs 2,548.55 yesterday, 12 October 2017, from a close of Rs 2,430.15 on 5 October 2017 ahead of the announcement of Q2

The stock had outperformed the market over the past one month till 12 October 2017, gaining 2.48% compared with the Sensex's 0.07% rise. The stock had also outperformed the market over the past one quarter, rising 4.49% as against the Sensex's 1.19% rise. The scrip had, however, underperformed the market over the past one year, gaining 7.08% as against the Sensex's 14.6% rise.

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

reported 8.4% rise in consolidated net profit to Rs 6446 crore on 3.2% rise in revenue to Rs 30541 crore in Q2 September 2017 over Q1 June 2017.

TCS' operating margin rose by 1.7% to 25.1% in Q2 September 2017 compared with Q1 June 2017. The company announced interim dividend of Rs 7 per share.

said that strong revenue growth was visible across verticals in the Q2 September 2017. With the exception of retail and CMI, all industry verticals grew above the company average, led by travel & hospitality (up 8% q-o-q), energy & utilities (up 7.2% q-o-q) and life sciences & healthcare (up 3.6% q-o-q).

Growth was led by Europe (up 5.3% q-o-q), Latin America (up 5.7% q-o-q), APAC (up 3% q-o-q) and UK (up 2.5% q-o-q). North America grew by 1.4% q-o-q with continued softness in Banking and Retail, said.

Commenting on the Q2 performance, Rajesh Gopinathan, CEO and MD, said that the company experienced robust volume growth in Q2, driven by good demand across multiple industry verticals. Large deal wins this quarter, a good pipeline, and bottoming out of the retail sector softness positions the company well, Rajesh Gopinathan said.

N. Ganapathy Subramaniam, Chief Operating Officer & Executive Director, said that with the sectoral headwinds slowly abating, the company expects steadier and stronger growth ahead.

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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, October 13 2017. 09:35 IST
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