TCS shares fall nearly 2 percent after third quarter results
New Delhi: Shares of TCS today fell by nearly 2 per cent after the company said its net profit slipped 3.6 per cent in three months to December.
Despite opening on a positive note, the stock failed to hold on the momentum and lost 1.59 per cent to Rs 2,744 as the trade progressed on BSE.
At NSE, shares of the company dipped 1.79 per cent to Rs 2,740.55.
India's largest software exporter TCS yesterday said its net profit slipped 3.6 per cent to Rs 6,531 crore in three months to December due to margin compression and softness in the banking and financial services sector, which is its largest revenue segment.
The Tata Group company had reported a net profit of Rs 6,778 crore in the December 2016 quarter under the Ind-AS accounting. In July-September 2017, its net profit stood at Rs 6,446 crore.