TCS declines after Q4 March 2015 revenue outlook

TCS fell 1.62% to Rs 2,653 at 10:28 IST on BSE after the company said that its revenue in Q4 March 2015 is expected to be in-line with last year trend.

The announcement was made after market hours on Thursday, 5 March 2015.

Meanwhile, the BSE Sensex was down 383.84 points, or 1.3%, to 29,065.11

On BSE, so far 33,687 shares were traded in the counter, compared with an average volume of 87,029 shares in the past one quarter.

The stock hit a high of Rs 2,660 and a low of Rs 2,611.80 so far during the day. The stock hit a record high of Rs 2,834 on 7 October 2014. The stock hit a 52-week low of Rs 2,000.50 on 19 May 2014.

India's largest IT services provider by sales has an equity capital of Rs 195.87 crore. Face value per share is Re 1.

TCS said at the conference call scheduled on 5 March 2015 that the company's revenue in Q4 March 2015 is expected to be in-line with last year trend. Retail, manufacturing and Hi-Tech segments are recovering from muted Q3 December 2014, TCS said. TCS said that there will be continued weakness in Diligenta, insurance, and energy businesses. The company expects European business to grow better than average. Strength in ITIS will continue in Q4 March 2015, TCS said. The company said it is likely to see a currency impact of almost negative 275 basis points, (constant currency to rupee revenue) and negative 200 bps (constant currency to dollar revenues). TCS has kept its target EBIT margin band unchanged, the company said.

TCS' consolidated net profit rose 1.6% to Rs 5328 crore on 2.9% growth in revenue to Rs 24501 crore in Q3 December 2014 over Q2 September 2014.

TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.

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