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Poor Q2 result takes its toll on TCS

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Tata Consultancy Services (TCS) was down 3.21% at Rs 1,940.05 after the company announced its Q2 September 2019 result after market hours yesterday, 10 October 2019.

Tata Consultancy Services (TCS) reported 1.09% fall in consolidated net profit to Rs 8042 crore on 1.23% rise in total income to Rs 40338 crore in Q2 September 2019 over Q1 June 2019.

The company's board declared a second interim dividend of Rs 5 and a special dividend of Rs 40 per equity share of the company. The record date for the dividend is Friday, 18 October 2019.

Revenue growth in Q2 September 2019 was led by Life Sciences & Healthcare (+16%) and Communications & Media (+11.8%). All the other verticals including BFSI (+8%), Manufacturing (+7.8%), Technology & Services (+5.6%) and Retail & CPG (+4.8%) continued to grow.

Growth in Q2 September 2019 was led by Europe (+16%) and UK (+13.3%). North America and Asia Pacific grew 5.3% and 6.5% respectively. Emerging markets showed steady growth including India (+7.7%), MEA (+7.3%) and Latin America (+7.3%).

Commenting on the Q2 performance, Rajesh Gopinathan, chief executive officer and managing director, TCS said the company ended Q2 September 2019 with steady growth despite increased volatility in the financial services and retail verticals.

Meanwhile, the S&P BSE Sensex was up 214 points or 0.57% to 38094.66.

On the BSE, 54,882 shares were traded in the counter so far compared with average daily volumes of 1.01 lakh shares in the past two weeks. The stock hit a high of Rs 1948.5 and a low of Rs 1930.15 so far during the day.

The stock hit a 52-week high of Rs 2296 on 03 September 2019. The stock hit a 52-week low of Rs 1784 on 29 October 2018.

Tata Consultancy Services (TCS) is leading global IT services, consulting and business solutions organization.

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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 11 2019. 09:23 IST