Tata Consultancy Services (TCS) is trading higher by 2% at Rs 1,315 after reporting a better-than-expected 49% year-on-year (yoy) growth in net profit at Rs 3,434 crore for the second quarter ended September 2012 driven by growth across geographies and businesses.
Revenues were up 34% y-o-y at Rs 15,621 crore during the quarter. On a sequential basis, profit after tax and net sales increased by 3.5% and 5%, respectively.
A Business Standard poll of five brokerages expected the country's largest software exporter to report a net profit of Rs 3,391 crore on revenues of Rs 15,628 crore.
Meanwhile, the board has declared a second interim dividend of Rs 3 per equity share of Rs 1 each of the company.
The stock opened at Rs 1,326 and hit a high of Rs 1,330 on the BSE. A combined around 90,000 shares have changed hands on the counter in opening deals on both the exchanges.