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TCS drops after Q4 earnings

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TCS fell 2.28% to Rs 2,526.20 at 9:17 IST on BSE after consolidated net profit excluding one time special employee reward rose 8.35% to Rs 5773 crore on 1.14% decline in income to Rs 24220 crore in Q4 March 2015 over Q3 December 2014.

The Q4 result was announced after market hours yesterday, 16 April 2015.

Meanwhile, the S&P BSE Sensex was down 3.98 points or 0.01% at 28,662.06.

On BSE, so far 17,000 shares were traded in the counter as against average daily volume of 71,000 shares in the past two weeks.

The stock hit a high of Rs 2,561 and a low of Rs 2,524 so far during the day.

TCS' bottom line during the quarter was boosted by 76.39% surge in other income to Rs 1136 crore in Q4 March 2015 over Q3 December 2014.

TCS' reported net profit during the quarter fell sharply due to one time special employee reward. Consolidated net profit dropped 30.31% to Rs 3713 crore in Q4 March 2015 over Q3 December 2014.

TCS said that it will pay employees a special reward or one-time bonus to mark the 10th anniversary of the company's initial public offering in 2004. For the company, the total consideration for this special reward to employees will be Rs 2628 crore.

Looking forward to financial year (FY) 2015-16, CEO and MD of TCS, N. Chandrasekaran said that the company's investments in platforms, digital and automation are gaining traction with clients and together with its market investments in USA, Europe and Japan, the company is upbeat that the coming quarters will bring more opportunities to partner with customers across multiple industries.

TCS said that the board of directors of the company at its meeting held on 16 April 2015 have recommended a final dividend of Rs 24 per share for the year ended 31 March 2015 (FY 2015).

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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First Published: Fri, April 17 2015. 09:09 IST