TCS climbs over 3% on strong Q4 numbers

Shares of Tata Consultancy Services (TCS) climbed as much as 3.56 per cent to Rs 2,085.60 apiece in the early morning trade on the BSE after the company posted stellar numbers for the March quarter of financial year 2018-19 (FY19).

The country’s largest IT services company crossed the $20-billion revenue mark for the first time in the quarter. Growth in net profit, as well as revenue, exceeded Street expectations, though margin contracted a bit in the fourth quarter.

For the quarter ended March 31, TCS reported Rs 8,126 crore in net profit, a jump of 17.7 per cent over the corresponding quarter last year. Revenue, at Rs 38,010 crore, saw an increase of 18.5 per cent on a year-on-year (y-o-y) basis.