New Delhi: Tata Consultation Services Shares (TCS) on Thursday rose more than 2 percent after the company reported a 12.2 percent surge in the December quarterly net profit on the growth of handsome income, and was guided to maintain the same momentum in the future.
Stock rose 2.25 percent to Rs 3,944.40 in BSE.
At NSE, it jumped 1.63 percent to Rs 3,923.
TCS The largest software exporter in the country on Wednesday reported a 12.2 percent surge in the December quarterly net profit at Rs 9,769 Crore on the growth of handsome income, and was guided to maintain the same momentum advancing behind the strong demand environment.
The company, cash cattle from the Group of Tata more than $ 100 billion, witnessed a 16.3 percent surge in its income to Rs 48,885 Crore for the reporting quarter.
The company, which sits on cash and is equivalent to more than RS 65,000 Crore, also announces repurchase offers up to RS 18,000 Crore where it has committed to paying Rs 4,500 per share.
“The demand environment is strong and the possibility of the headroom of growth is very high.
Our aim is to maintain momentum and we will go out for the same thing,” said the Director of TCS and Chief Executive Rajesh Gopinathan told reporters.