TCS Shares Jump 1.05% After Q3 Earnings

Shares of Tata Consultancy Services (TCS) on Thursday gained 1 per cent after the firm reported a 12.2 per cent jump in the December quarter net profit supported by a decent revenue growth.

The stock jumped 1.05 per cent to settle at Rs 3,897.65 on BSE. During the day, it gained 2.25 per cent to Rs 3,944.40.

On NSE, it rose 0.98 per cent to close at Rs 3,898.

In volume terms, over 3.68 lakh shares were traded on BSE and over 66.84 lakh on NSE.

The country’s largest software exporter TCS on Wednesday reported a 12.2 per cent jump in December quarter net profit at Rs 9,769 crore on handsome revenue growth, and guided towards maintaining the same momentum going forward on the back of a strong demand environment.

The company, the cash cow of the over $100 billion Tata Group, witnessed a 16.3 per cent jump in its revenue to Rs 48,885 crore for the reporting quarter.

TCS, which is sitting on cash and equivalent of over Rs 65,000 crore, also announced an up to Rs 18,000-crore buyback offer where it has committed to pay Rs 4,500 per share.

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