Tata Consultancy Services (TCS) is trading 4 % higher at Rs 2,474 on National Stock Exchange after reporting a better-than-expected consolidated net profit of Rs 5,058 crore for the quarter ended June 2014 (Q1).
Analysts, on an average, had expected profit of Rs 4,885 crore for the quarter. The company had reported a profit of Rs 5,297 crore in the March 2014 quarter.
The comapny's total consolidated revenues were up 2.6% at Rs 22,111 crore in June quarter against Rs 21,551 crore in March quarter, TCS said in a statement.
TCS also managed to surprise analysts on its margin. Despite a pay rise of 10% and an appreciating rupee and a one-time impact from depreciation policy, the margin was 26.8%.
Meanwhile, the board of directors of the company has declared an interim dividend of Rs 45 per equity share of Rs 1 each of the company, which includes special dividend of Rs 40 per equity share on 10th anniversary of IPO.
The interim dividend will be paid to the equity shareholders of the company on August 08, 2014, it added.
The stock opened at Rs 2,452 and touched a high of Rs 2,485 on NSE. A combined 606,000 shares changed hands on the counter in early morning deals on NSE and BSE. The stock hit a record high of Rs 2,498 on July 7 this year on NSE.
Analysts, on an average, had expected profit of Rs 4,885 crore for the quarter. The company had reported a profit of Rs 5,297 crore in the March 2014 quarter.
The comapny's total consolidated revenues were up 2.6% at Rs 22,111 crore in June quarter against Rs 21,551 crore in March quarter, TCS said in a statement.
TCS also managed to surprise analysts on its margin. Despite a pay rise of 10% and an appreciating rupee and a one-time impact from depreciation policy, the margin was 26.8%.
Meanwhile, the board of directors of the company has declared an interim dividend of Rs 45 per equity share of Rs 1 each of the company, which includes special dividend of Rs 40 per equity share on 10th anniversary of IPO.
The interim dividend will be paid to the equity shareholders of the company on August 08, 2014, it added.
The stock opened at Rs 2,452 and touched a high of Rs 2,485 on NSE. A combined 606,000 shares changed hands on the counter in early morning deals on NSE and BSE. The stock hit a record high of Rs 2,498 on July 7 this year on NSE.
