 "Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai")
Tata Consultancy Services, country’s largest software services firm, gained over 2% to Rs 2,605 in intraday trade on Friday after the company reported 2.16% year-on-year drop in net profit at Rs 6,446 crore, while revenue grew 4.3% to Rs 30,541 crore.
At 9:45 am, the stock was trading at Rs 2568.45, up 0.7% on the BSE.
While revenue performance was in line with Street expectations, and was helped by improved business from clients, profits were ahead of analysts’ estimates aided by better margins and other income. CLICK HERE FOR DETAILED EARNINGS
Analysts at Edelweiss Securities believe the IT giant
