TCS share price: The shares of the Tata Consultancy Services ( TCS ) opened 2.12 per cent lower on Friday after the company reported its earnings for the second quarter of the current fiscal. The shares of the company opened at Rs 4140.00 apiece, down by 2.12 per cent from its previous close. The stock has reacted as the company’s earnings missed the street estimates.
The leading IT company posted a 5 per cent year-on-year (YoY) increase in its net profit for the second quarter (Q2 FY25), covering the July-September period.
For Q2 FY25, TCS reported a consolidated net profit of Rs 11,909 crore, marking a 5 per cent increase from Rs 11,342 crore during the same period last year. Its revenue from operations stood at Rs 64,259 crore, an improvement from Rs 59,692 crore in Q2 FY24, reflecting a growth of 7.7 per cent.
However, despite an 8 per cent revenue growth, ongoing caution in global markets, particularly driven by geopolitical uncertainties, led to a slight dip in the company’s operating margin.
The company also announced a Rs 10 per share dividend, with a record date of October 18 and a dividend payout set for November 5.
In constant currency terms, the company’s revenue grew by 5.5 per cent. The operating margin for this quarter came in at 24.1 per cent, with the net margin at 18.5 per cent, though the operating margin saw a slight year-on-year decline of 0.2 per cent.
As of 09:42 am, the shares of the company were trading 0.71 per cent or 29.85 points lower at Rs 4198.55 apiece.
(With PTI inputs)
