TCS Q3 results fail to lift share prices. Here’s what brokerages say
NEW DELHI: The December quarter earnings of India’s largest software exporter Tata Consultancy Services NSE -1.95 % or TCS failed to impress investors despite surprising on the revenue front. Shares of the heavyweight IT company were trading 2.5% lower at Rs 3,237.05 in the morning session on Tuesday.
TCS’s Q3 revenue growth of 19.1% YoY at Rs 58,229 crore surpassed analyst estimates. Global brokerage firm Jefferies said while TCS NSE -1.95 % delivered healthy growth during the quarter, falling headcount and book-to-bill ratio points to sharp growth moderation in FY24.