TCS shares gain over 1% post earnings
Apr 17 2014 , Mumbai
Stock of the country's largest software exporter settled 1.02 per cent up at Rs 2,217.45 on the BSE. During the day, the scrip jumped 1.59 per cent to Rs 2,230.
At the NSE, TCS shares went up by 1.23 per cent to close the day at Rs 2,223.40.
"TCS reported its Q4 FY14 results with revenue a bit lower than expectations while net profit stood marginally higher than estimates on account of healthy forex gains," said Ankita Somani, Research Analyst (IT), Angel Broking.
TCS yesterday posted a 48.2 per cent jump in net profit at Rs 5,358 crore for the fourth quarter of the last fiscal and sounded optimistic that it would do better this year.
TCS MD & CEO N Chandrasekaran had said the company will have a better year in FY2015 on the revenue growth front and he exuded confidence that the company would outpace industry body Nasscom's target of 13-15 per cent growth this fiscal.
For the last quarter of FY 2014, TCS' overall revenue grew 31.2 per cent to Rs 21,551 crore and margin widened by 285 bps to 24.9 per cent under the Indian GAAP accounting standards.
For the full year, net profit grew 37.7 per cent to Rs 19,164 crore on a revenue of Rs 81,809 crore, which rose 29.9 per cent from the previous year.