TCS shares fall nearly 2% after Q3 results

Software exporter TCS on Thursday said its net profit slipped 3.6% to Rs 6,531 crore in Q3.

Shares of TCS fell by nearly 2% on Friday after the company said its net profit slipped 3.6% in three months to December.

Despite opening on a positive note, the stock failed to hold on the momentum and lost 1.59% to Rs 2,744 as the trade progressed on BSE.

At NSE, shares of the company dipped 1.79% to Rs 2,740.55. 

India’s largest software exporter TCS on Thursday said its net profit slipped 3.6% 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.