TCS shares rise 1.50%
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New Delhi: Shares of Tata Consultancy Services (TCS) on Monday climbed over 1.50 per cent after the IT services major reported a 9 per cent growth in net profit at Rs2,434 crore in the January-March quarter of FY24 due to strong domestic business even as the company struggled in its key markets overseas.
The stock gained 1.56 per cent to Rs4,063 on the BSE. On the NSE, shares of the company climbed 1.56 per cent to Rs4,064.20. Its market valuation zoomed by Rs 7,489.44 crore to Rs14,54,832.99 crore amid rally in the stock.
The company’s earnings were announced post-market hours on Friday. In the entire fiscal year, the Tata Group company’s net profit surged 9 per cent to Rs45,908 crore, while the revenue went up to Rs2,40,893 crore from Rs2,25,458 crore a year ago. North America, the biggest market by geography, reported a 2.3 per cent dip in revenues, while continental Europe, the third biggest, witnessed a 2 per cent decline in revenues during the latest January-March period.
