TCS gains on revenue outlook; other income worries

Tags: TCS, Companies
Shares in Tata Consultancy Services Ltd gain 1 percent after its CEO said the company expected a further rise in revenue growth in the new financial year.

Still, gains were tempered by some concerns about the IT outsourcer's January-March net profit when adjusted for other income, which came below estimates, according to some analysts. Shares had earlier fallen as much as 2.4 percent before recovering.

TCS reported other income of 4.43 billion rupees ($73.4 million) during the January-March quarter, a number that analysts point out would have been lower had it not been conducted under International Financial Reporting Standards (IFRS).

That may have boosted the net profit of 52.97 billion rupees ($879 million) TCS reported on Wednesday, according to analysts.

EDITORIAL OF THE DAY

  • Saffronites need to build their own edifices and narratives

    The news that the BJP-led NDA government, no admirers of India’s first prime minister, want to give a ‘contemporary’ look to the capital’s mos

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

Sachin Shridhar

Crouching tiger, hidden dragon

The Chinese are consummate gamblers. If you visit a casino ...

Zehra Naqvi

Capturing change

The pace of change in the world around us can ...

Gautam Gupta

Bring on the Benares brigade

It was in 2003 when I first started work and ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture