TCS stock down post Q4 results

New Delhi, Apr 19 (PTI) Shares of IT major TCS ended marginally lower today, recovering from a sharp dip earlier in the day following the company’s March quarter numbers that came in weaker than investor estimates.
The bluechip stock slipped 0.30 per cent to end at Rs 2,301.75 on BSE. During the day, it lost 2.32 per cent to Rs 2,255.
On NSE, shares of the company went down by 0.41 per cent to close at Rs 2,299.15.
The company’s market valuation fell by Rs 1,359.6 crore to Rs 4,53,543.25 crore.
On the volume front, 2.17 lakh shares of the company were traded on BSE and over 28 lakh shares changed hands at NSE during the day.
“TCS’ March quarter results are a tad short on the revenue front,” Emkay Global Financial Services said in a report.
TCS yesterday reported 4.2 per cent growth in net profit at Rs 6,608 crore for the quarter ended March 2017.
The company had logged a net profit of Rs 6,340 crore in the same period last fiscal as per Indian accounting norms.
The Tata Group company, which accounts for more than 60 per cent of the group’s overall profit, reported a revenue growth of 4.2 per cent at Rs 29,642 crore for the said quarter, up from Rs 28,449 crore a year earlier.
For the entire 2016-17, TCS saw net profit grow at 8.3 per cent to Rs 26,289 crore while revenue was up 8.6 per cent at Rs 1,17,966 crore. PTI