TCS down 1% as June quarter earnings miss Street expectation

For the first quarter, net profit of the company at Rs 9,008 crore grew by 28.5 per cent year-on-year basis, but was down 2.5 per cent sequentially

Shares of Tata Consultancy Services (TCS) sliped 1.4 per cent at Rs 3,212 on the BSE in intra-day trade on Friday, after the company’s June quarter (Q1FY22) earnings missed the Street expectation as its India business pulled down revenue growth during the first quarter of FY22.

The stock of information technology (IT) major was trading 0.85 per cent lower at Rs 3,229 at 09:32 am, marginally recouping the morning loss. It had hit a high of Rs 3,274 in opening trade. In comparison, the S&P BSE Sensex was down 0.41 per cent and the S&P BSE IT index lost