TCS shares end flat post quarter two results

Shares of TCS today gave up most of early gains and ended flat after the company's net profit fell in the September quarter.

Published: 13th October 2017 05:48 PM  |   Last Updated: 13th October 2017 08:17 PM   |  A+A-

An employee of Tata Consultancy Services (TCS) works inside the company headquarters in Mumbai. (File | Reuters)

By PTI

NEW DELHI: Shares of TCS today gave up most of early gains and ended flat after the company's net profit fell in the September quarter.

The IT bellwether's scrip ended at Rs 2,556.75, up 0.32 per cent on BSE. During the day, it rose by 2.23 per cent to Rs 2,605.60.

On NSE, shares of the company gained 0.40 per cent to close at Rs 2,558.60.

The company's market valuation went up by Rs 1,570.48 crore to Rs 4,89,435.48 crore.

India's largest software exporter TCS yesterday reported 2.1 per cent dip in net profit to Rs 6,446 crore for the September quarter on softness in banking and retail segments, but gave better guidance based on client optimism.

The Tata group company posted a net profit of Rs 6,586 crore in the year-ago period. Its revenue grew 4.3 per cent year-on-year and 3.2 per cent over the preceding June quarter to Rs 30,541 crore under the Ind AS accounting norms.

The company, which is the crown jewel of the USD 104 billion salt-to-software Tata Group, declared a dividend of Rs 7 per share and set October 26 as the record date.

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