TCS shares end over 3 pc lower post Q2 earnings

Shares of TCS Friday ended over 3 per cent lower even as the company reported a 22.6 per cent jump in consolidated net profit for the July-September quarter.

The stock ended at Rs 1,918.40, a fall of 3.10 per cent on BSE. During the day, it dropped 3.78 per cent to Rs 1,904.80.

At NSE, shares of the company declined 3 per cent to settle at Rs 1,920.

The stock was the worst hit among the blue chips on both the key indices during the day.

In terms of equity volume, 6.50 lakh shares of the company were traded on BSE and over 93 lakh shares changed hands at NSE during the trade.

The bluechip scrip fell for the third consecutive session Friday, plunging over 8 per cent and wiping out Rs 64,578.52 crore from its market valuation to Rs 7,19,857.48 crore on BSE.

The country's largest software exporter Thursday reported a 22.6 per cent jump in consolidated net profit at Rs 7,901 crore in the July-September quarter, buoyed by strong demand for digital services.

Tata Consultancy Services (TCS) had posted a net profit of Rs 6,446 crore in the same period last fiscal, the company said in a statement.

The Tata group company saw a revenue growth of 20.7 per cent at Rs 36,854 crore in the September quarter, up from Rs 30,541 crore a year ago.