Tata Consultancy Services (NSE: TCS) declares Q3 results yesterday, results are almost as it were expected. It seems that the today’s opening bell is not going to have any big impact on TCS share price.
- TCS declared Q3 FY201718 results after market closing bell on Thursday.
- Posted 1.3% rise in net profit Quarter on quarter.
- Declared interim dividend of RS 7 per equity share of Re 1 each of the company.
- The stock closed at 0.5% lower at Rs. 2,790, hitting 52-week high of Rs. 2,821.90 And a low of Rs.2, 782.20 on NSE.
TCS Q3 FY201718 Results
India’s largest IT firm TCS reported third quarter result in line with expectation. The IT firm declared rise in net profit of 1.3% quarter on quarter (QoQ) at RS 6,531 crore for the quarter ended on December 2017. It had posted RS 6,778 Crore net profit in the same quarter of previous fiscal year.
The IT major declared its total income rose 1.32 % for the quarter to Rs.31, 774 crore.
The Company also declared interim dividend of Rs. 7 per equity share of Re 1 each of the company’s shareholders on January 31, 2018.
Ahead of its earnings, the stock hit 52-week high and a low at Rs. 2821.90 and Rs.2, 782.20 respectively on Thursday. It closed 0.5% lower at Rs. 2,792.50.
Deal Win by TCS
The IT major’s 3 clients added to over 50 million band, 7 clients added to over USD 20 million band, 9 clients to over USD 10 million band and 15 clients added to over USD 5 million band.
The company signed its first $50 million plus digital deal in this quarter, which is an important milestone in the mainstreaming of digital technologies for the company.
— TCS (@TCS_News) January 11, 2018
TCS Share Price Outlook
As the company wrapped the quarter by signing industry defining- deals and strong client metrics. So, we can expect a strong performance of the company in coming quarters as well. This will have a direct positive impact on TCS share price and we can see new lifetime highs.
What to expect on Friday market opening?
As the results were broadly in line with the market estimates and the stock is already trading at its high record. It will be a bit tough to say based on third quarter results itself. But yes, we can expect TCS Share price to be flat or it could open marginally up on Friday’s opening bell.