TCS lost 4.19% to Rs 2,245 at 14:22 IST on BSE after consolidated net profit rose 2.9% to Rs 6778 crore on 1.5% increase in revenue to Rs 29735 crore in Q3 December 2016 over Q2 September 2016.
The result was announced after market hours yesterday, 12 January 2017. The results are as per International Financial Reporting Standards (IFRS).Meanwhile, the S&P BSE Sensex was down 70.03 points, or 0.26%, to 27,177.13
On BSE, 3.36 lakh shares were traded in the counter as against average daily volume of 95,222 shares in the past one quarter. The stock had hit a high of Rs 2,368 and a low of Rs 2,243.05 so far during the day.
The stock hit a 52-week high of Rs 2,740 on 12 August 2016. The stock hit a 52-week low of Rs 2,054.70 on 15 November 2016. The stock had outperformed the market over the past 30 days till 12 January 2017, rising 6.13% compared with Sensex's 2.42% rise. The scrip had also underperformed the market in past one quarter, sliding 0.96% as against Sensex's 1.54% fall.
The large-cap IT major has equity capital of Rs 197.04 crore. Face value per share is Re 1.
TCS' consolidated revenue in constant currency grew 2% in Q3 December 2016 over Q2 September 2016. Operating income rose 1.5% to Rs 7733 crore in Q3 December 2016 over Q2 September 2016.
During Q3 December 2016, growth was led by Energy and Utilities (up 5.8% sequentially), Hi-Tech (up 2.6% sequentially), BFSI (up 2.1% sequentially), Manufacturing (up 2.1% sequentially) and Retail (up 1.9% sequentially) in constant currency.
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Commenting on the Q3 performance, CEO and MD, N Chandrasekaran said that the resilience of the company's business model and strength of operating strategy has been brought to the fore by its performance in Q3, traditionally a quarter of weak demand. TCS' strengths in digital, platforms and cloud as well as its deep knowledge of the customers' domain are driving its ability to play a strategic role and make a holistic impact on the business.
Chandrasekaran added that to support and sustain the company's digital business that is growing at 30% on an annual basis, it continues to build new capabilities in digital technologies, empower employees to enhance agility in the workplace and invest more to develop IP-based platforms and products. Some of these products and platforms are maturing with greater customer adoption while others continue to be incubated in its innovation labs. As digital adoption increases in 2017, TCS is well prepared to lead this change.
Rajesh Gopinathan, Chief Financial Officer, said that TCS has shown great discipline and control at all levels to deliver another credible quarter. Alongside a good growth performance, the company has been able to keep profitability stable in the desired range and deliver over $1 billion in free cash flow during the quarter. Meanwhile, TCS after market hours yesterday, 12 January 2017 announced that Rajesh Gopinathan has been appointed as Chief Executive Officer (CEO) and Managing Director of the company. Gopinathan takes over from N Chandrasekaran who has been appointed as the Chairman of Tata Sons, effective 21 February 2017.
TCS is an IT services, consulting and business solutions organization. The company offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.
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