TCS falls over 2 pc after Q3 earnings

TCS falls over 2 pc after Q3 earnings

A private security guard stands at the exit gate of the headquarters of Tata Consultancy Services (TCS) in Mumbai. (REUTERS photo)

The scrip of Tata Consultancy Services (TCS) on Monday fell over 2 per cent after the company reported a muted growth in consolidated net profit for the third quarter ended December 2019.

On the BSE, the stock declined 2.14 per cent to Rs 2,170.50. On the NSE, the scrip dropped 2.34 per cent to Rs 2,167.

The country's largest software services major, after market hours on Friday, reported a muted 0.2 per cent growth in consolidated net profit at Rs 8,118 crore for the third quarter ended December 2019.

This is against a net profit of Rs 8,105 crore in the year-ago period, TCS said in a BSE filing.

Revenue of the firm grew 6.7 per cent in the quarter under review to Rs 39,854 crore from Rs 37,338 crore in the corresponding period of the last fiscal, it added. 

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