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TCS shares jump 4% after Q1 earnings

Press Trust of India  |  New Delhi 

Shares of Consultancy Services rose 4 per cent today after the company posted better-than-expected earnings.

The stock after making a positive opening further jumped 3.78 per cent to Rs 1,948 -- its 52-week high -- on BSE.

It was the top gainer in the Sensex pack during the morning trade.

At NSE, shares of the company gained 3.98 per cent to Rs 1,949.90.

"TCS first quarter results were better-than-expected on all fronts against our/street estimates," Emkay Global Financial Services said in a report.

Country's largest posted 23.4 per cent rise in consolidated net profit to Rs 7,340 crore for the first quarter ended June 30, 2018.

The company had reported a net profit of Rs 5,945 crore in the same period previous fiscal, TCS said in a regulatory filing.

The Group company -- which accounts for a lion's share of the group's overall profit -- saw its income from operations grow 15.8 per cent to Rs 34,261 crore during the quarter, up from Rs 29,584 crore a year ago.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, July 11 2018. 12:55 IST