TCS shares end 0.5 per cent lower after Q3 results

India's largest software exporter TCS yesterday said its net profit slipped 3.6 per cent to Rs 6,531 crore in three months to December due to margin compression and softness in the banking sector.

Published: 12th January 2018 04:31 PM  |   Last Updated: 12th January 2018 05:45 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 ended 0.5 per cent lower after the company said its net profit slipped 3.6 per cent in three months to December.

The stock fell by 0.56 per cent to end at Rs 2,772.90 on BSE. During the day, it dipped 1.59 per cent to Rs 2,744.

On NSE, shares of the company lost 0.50 per cent to close at Rs 2,776.35.

India's largest software exporter TCS yesterday said its net profit slipped 3.6 per cent to Rs 6,531 crore in three months to December due to margin compression and softness in the banking and financial services sector, which is its largest revenue segment.

The Tata Group company had reported a net profit of Rs 6,778 crore in the December 2016 quarter under the Ind-AS accounting. In July-September 2017, its net profit stood at Rs 6,446 crore.

TCS bagging biggest-ever deal also failed to lift the stock.

Tata Consultancy Services (TCS) today said it has bagged a deal worth more than USD 2 billion from the US insurance group Transamerica, marking its largest contract to date.

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