Share price of Tata Consultancy Services (TCS) today fell by over 2 per cent after the software exporter reported...
Share price of Tata Consultancy Services (TCS) today fell by over 2 per cent after the software exporter reported a marginal dip in net profit in December quarter due to lower margins.
Scrip of the country’s largest software exporter fell by 2.39 per cent to Rs 2484.00 at the BSE.
On the NSE, it was down 2.15 per cent to Rs 2,484.30.
Dipen Shah, Head- Private Client Group Research, Kotak Securities, said: “The results have not provided any positive surprise. The in-line results for 3Q reflect the impact of seasonality as well as softness in a few verticals like Insurance and Energy / Utilities.”
TCS had yesterday reported a marginal dip in net profit at Rs 5,328 crore in December quarter due to lower margins, a tepid performance compared to rival Infosys that beat market expectations to log 13 per cent jump in profits.
TCS’ operating margin dipped by 2.88 per cent as compared to last year, to 26.9 per cent, but was up 0.21 per cent over the preceding September quarter.